Pubblicato in: Devoluzione socialismo, Sistemi Economici, Unione Europea

Il fondo Esm sospende il sostegno al debito b.t. greco.

Giuseppe Sandro Mela.

2016-12-14.

 atene-003

«Il fondo salvataggio Esm ha sospeso l’implementazione dell’accordo di sostegno al debito a breve termine della Grecia dopo la proposta di Atene di effettuare un pagamento una tantum ai pensionati a dicembre. I ministri delle Finanze della zona euro il 5 dicembre avevano raggiunto un accordo su misure che ridurrebbero l’ammontare del debito pubblico ellenico di 20 punti percentuali di Pil entro il 2060. Tuttavia l’8 dicembre il premier Alexis Tsipras ha annunciato, senza consultare le istituzioni della zona euro, che il governo intende spendere 617 milioni di euro in benefici straordinari a favore dei pensionati con assegni più bassi prima di Natale, in quanto la Grecia ha superato il target di avanzo primario 2016.» [Reuters]

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«Tsipras is due to meet German Chancellor Angela Merkel in Berlin this week»

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A quanto è stato riportato, Tsipras avrebbe assunto un’iniziativa senza previe consultazioni. Non solo. Dopo che il 5 dicembre era stato raggiunto un accordo. Di qui la dura presa di posizione del fondo di salvataggio Esm.

Possiamo ben comprendere come Tsipras desideri favorire i suoi pensionati con una gratifica di fine anno, ma nel contempo possiamo comprendere lo sconcerto dell’Esm.

Emerge comunque una scollatura severa: il diverso modo di interpretare delle clausole.

Gli accordi dovrebbero essere scritti in modo molto più chiaro, proprio per evitare situazione di questo tipo.  E nelle consultazioni, ci si dovrebbe sempre parlare molto apertamente. Giocare a fare i furbetti può fare ottenere qualche piccolo risultato immediato, ma alla lunga non paga per nulla, anzi, penalizza.


Reuters. 2016-12-14. Euro zone puts Greek debt relief on hold in Christmas bonus row

Euro zone lenders put a short-term debt relief deal for Greece on hold on Wednesday after the Athens government proposed a one-off payout to pensioners, the euro zone bailout fund ESM said.

Euro zone finance ministers agreed on Dec. 5 to grant Greece short-term debt relief that would reduce its public debt by 20 percentage points of GDP by 2060.

But three days later, Greek Prime Minister Alexis Tsipras said his government would spend 617 million euros in one-off benefits for low-income pensioners ahead of Christmas because Greece had exceeded its 2016 primary surplus target.

The Greek government has also annoyed its lenders by deciding to continue a 30 percent discount on levels of value-added tax charged on some Greek islands.

“Following recent proposals by the Greek government to spend additional fiscal resources for pensions and VAT our governing bodies have put their decisions temporarily on hold,” a spokesman for the ESM said.

“Institutions are currently assessing the impact of Greek government decisions vis-a-vis the ESM program commitments and targets. (We) will then analyze the institutions’ assessment and subsequently decide how to proceed,” the ESM spokesman said.

Greek government borrowing costs rose to one-month highs on the news.

In a defiant response to the lenders’ move, Athens said it would hold a parliamentary vote on the pension payments on Thursday in an effort to rally domestic support.

Greek pensioners, who have seen repeated cuts in their pensions during seven years of recession as part of a bailout-mandated austerity drive, have already snubbed the bonus plan as a “ruse” and plan rallies in Athens on Thursday.

The ESM had already criticized the payout proposal on Monday, but Tsipras was defiant in a speech the following day.

“When we exceed targets and revenue by sticking to the program, we will not seek anyone’s permission to give this money to those who need it most,” he said.

The International Monetary Fund, which a group of countries led by Germany hope will join the bailout program to provide greater credibility, says euro zone targets set for Greece are too ambitious and assumptions on reform implementation too optimistic.

The IMF insists that euro zone governments, which now own most of Greece’s debt, should grant it substantial debt relief by extending maturities.

Germany and other euro zone countries say a discussion on such a move can take place in 2018, once Greece completes its bailout reforms. This would also move the politically sensitive debt issue past German elections in the second half of 2017.

Tsipras is due to meet German Chancellor Angela Merkel in Berlin this week.

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