Germany rejects Greek proposal as 'no substantial solution'

[Bosonic]

Last edited Thu Feb 19, 2015, 09:11 AM - Edit history (1)

Source: AFP

Germany on Thursday rejected a request by Greece to its European partners for a six-month extension to its EU loan programme, saying it was "not a substantial proposal for a solution".

"The letter from Athens is not a substantial proposal for a solution," said a spokesman for German Finance Minister Wolfgang Schaeuble in a short statement.

"In truth it aims at bridge financing, without meeting the requirements of the programme. The letter does not meet the criteria agreed upon in the Eurogroup on Monday."

Debt-wracked Greece has sent a make-or-break request to extend its European loan programme that expires at the end of the month, but demanding to end hated austerity measures.

Read more: https://uk.finance.yahoo.com/news/germany-rejects-greek-proposal-no-123254761.html

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Greece asks EU for six-month loan extension

(AFP) Greece on Thursday formally asked the EU for a six-month loan extension, officials in Athens and Brussels said, hoping to avoid default and draft a new deal with its creditors.

Eurogroup chief Jeroen Dijsselbloem said on his Twitter account that he had received the request, without giving further details.

"Received Greek request for six months extension," said Dijsselbloem, who is also the Dutch finance minister.

Athens is trying to sidestep the restrictions of its bailout, but a number of eurozone hardliners including Germany are likely to resist the move.

https://uk.news.yahoo.com/greece-asks-eu-loan-extension-government-source-092405427.html#AgFpRyk

[Bosonic]

1. Take it or leave it, Athens tells Eurogroup on loan proposal

Take it or leave it, Athens tells Eurogroup on loan proposal

Athens (AFP) - Greece said Thursday the EU had two choices, to accept or reject its request for a six-month extension to its EU loan programme, as a row over the bailout crisis escalated.

"Tomorrow's Eurogroup has just two choices. To accept or reject the Greek request. We will now discover who wants to find a solution, and who does not," a government source said after Germany snubbed the Athens proposal.

The message was addressed to German finance ministry spokesman Martin Jaeger, who had said the Greek offer -- presented to Brussels on Thursday -- "does not meet the criteria" laid out by eurozone ministers.

European Commission President Jean-Claude Juncker's reaction was more positive, suggesting the eurozone was divided over what exactly needed to be promised by Athens to reach a much-needed compromise.

http://news.yahoo.com/germany-rejects-greek-proposal-no-substantial-solution-003123336.html;_ylt=AwrBEiEKBuZUxXAABhzQtDMD

[bemildred]

2. These guys a sharp.

This could get interesting. They intend to go after the banks politically, not legally, though they will do that too.

[geek tragedy]

3. They're bold. Whether they're sharp remains to be seen.

Germany is offering to help them pack their bags, so if this was meant to be a threat I don't think it's working.

Debtors don't issue ultimatums with success very often.

[bemildred]

4. Let's say they write well.

It will indeed be a dirty fight.

[The Green Manalishi]

5. Anything and any means is fair against the banksters EOM

[FLPanhandle]

6. This is just like a divorce

Both parties want out of the relationship but are now just positioning themselves as the "one who tried to save the marriage" or claim the moral high ground.

There will a lot more noise from both parties until Greece is out of the EU, but it's clear they both want to end the experiment.

[closeupready]

7. Germany's hubris raises its head, yet again.

It never seems to work out well for them, but I guess they are determined to keep making the same mistakes they've made throughout their sad history.

[quadrature]

8. welcome news..

Greece should leave the Euro.