Political Dilemmas Related To The Release Of 5th Aid Tranche
 
                         Pressures  for decisions on the Greek debt multiply over the last few days, taking  the form of dilemmas about whether Greece would stay in the Eurozone by  implementing the medium-term plan with additional measures for 2011 or  it would be force to leave the single currency, with devastating  consequences. 
The proposal of Hellenic Federation of Enterprises (SEV) for a  referendum to gain a mandate for further austerity measures, spending  cuts and privatizations or exit from euro, along with intervention of  European Commissioner Maria Damanaki on Wednesday on a similar manner,  revealed that the negotiations between the Greek government and the  opposition are exhausting the possibilities of an answer to the Troika  in the coming days. 
This answer will allow the release of the fifth aid tranche and launch  alongside procedures for a new loan for 2012, as shown by recent  statements by European Commissioner Olli Rehn and Eurogroup President  Jean-Claude Juncker. 
During unofficial contacts, the European Commission confirms that it  would pass the issue to the finance ministers in order to proceed with a  political decision, since it is clear that in financial terms, the  possibility of results that are consistent with initial objectives is  now significantly reduced.   
On the other hand, the European Central Bank remains firmly in its  position to reject any form of a Greek debt restructuring and insists on  implementing the measures and the expanding of borrowing with new  bilateral loans for 2012 or an additional loan through the temporary  rescue fund EFSF, a proposal that the German government rejects. 
Diplomatic sources in Brussels told Capital.gr that “the situation seems  desperate but we should bear in mind that that the solutions for  Greece, Portugal and Ireland had been adopted is such desperate  situations, when agreement seemed to be unreachable”.  
They don’t rule out that European Summit in June may not provide any  bold answer and the issue would be passed to the European Summit in  September .
(capital.gr)
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