Greece’s bailout programme – next move
13.02.2015, 12:03

Greece’s bailout programme – next move

Eurozone's finance ministers meeting has ended without an agreement on extending the Greece's bailout on late Wednesday. The next meeting is scheduled to be on Monday.

The tone was friendlier after a summit of European Union leaders in Brussels on Thursday. Greece's Prime Minister Alexis Tsipras said the EU leaders covered an important part.

The EU-IMF bailout programme expires on 28 February and Greece does not want it extended. Greek government would like to renegotiate the EU-IMF bailout programme.

Greek officials have said that the government risks running out of money in early March.

I think that the new government wants to test EU's limits. Finally, an agreement will be signed between Greece and its creditors.

Greek government needs money. Greek officials have said that the government risks running out of money in early March. Greek banks have been hurt by an outflow of deposits. They cannot use Greek government's bonds to get liquidity from the European Central Bank (ECB).

In my opinion, Greek officials were bluffing as they said that Russia and China had already offered financial support to Greece.

Russia's Finance Minister Anton Siluanov said that Russia hasn't received a request for help from Greece.

Russia's Foreign Minister Sergei Lavrov said on Wednesday that Russia would consider a request for financial aid from Greece if it came.

The EU leaders said that they do not want to sign a new agreement. Because nobody knows which effect Greek exit from the Eurozone would have on the Eurozone, it's likely that the EU leaders agree to a compromise.

I think that the most creditors understand that they will not get all their money.

  • Name: Konstantin Meinhardt
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