GiveMeLeverage
& I will remove the world
[..] detailed reports regarding the content of Greece’s proposal are beginning to filter through with government sources saying the proposal runs to 47 pages and is divided into “elements” agreed by teams of technical experts, known as the Brussels group, and “elements” that have yet to be resolved. The anti-austerity government, has it seems, agreed to overhaul the social security system and roll back on pension reform - but is still insisting that the primary surplus demanded of Athens be less than 1%.
It is also believed to be digging in its heels on its primary demand of reducing what it has repeatedly said is an unsustainable debt load - perhaps the biggest impediment to any kind of deal for creditors.
Expressions of optimism are coming in thick and fast with officials saying they expect an agreement to be sealed within days.
The governor of the Bank of Greece and former finance minister Yannis Stournaras (no friend of the government) has also said that he believes the distance between the two sides is finally being bridged and that a compromise is not far away.
Stournaras reminded an audience at London’s Chatham House that 80% of Greeks did not want euro exit and 65% were willing to make further sacrifices to stay in the single currency.
It is also believed to be digging in its heels on its primary demand of reducing what it has repeatedly said is an unsustainable debt load - perhaps the biggest impediment to any kind of deal for creditors.
Expressions of optimism are coming in thick and fast with officials saying they expect an agreement to be sealed within days.
The governor of the Bank of Greece and former finance minister Yannis Stournaras (no friend of the government) has also said that he believes the distance between the two sides is finally being bridged and that a compromise is not far away.
Stournaras reminded an audience at London’s Chatham House that 80% of Greeks did not want euro exit and 65% were willing to make further sacrifices to stay in the single currency.