Greek Finance Minister Euclid Tsakalotos at the start of a special Eurogroup finance ministers meeting on the Greek crisis, at the European Council headquarters in Brussels, Belgium, July 12, 2015. Photo by EPA/BGNES
Growing discord has started to emerge hours before Sunday afternoon's Eurozone summit which is due to decide whether to grant Greece another bailout package or move to "Plan B".
"Italy does not want Greece to exit the euro and to Germany I say: enough is enough," Italian PM Matteo Renzi told Il Messaggero newspaper.
"Humiliating a European partner after Greece has given up on just about everything is unthinkable.”
While Italy and France are calling for a quicker decision on the new bailout package - which will be tied to a new set of reforms - countries like Germany, Finland, and the Netherlands are not keen on granting more than EUR 50 B to Greece without any guarantees it will stick to reforms.
This came as Eurozone finance ministers met to work on a deal with Greece ahead of talks of leaders from the single currency area scheduled for 16:00 Brussels time (17:00 EEST).
The meeting was announced on Sunday morning as an alternative to the full EU summit which was scheduled for the same time but which was called off by European Council President Donald Tusk.
Daily Kathimerini on Sunday reported that European finance chiefs had said they were unlikely to strike a deal by the end of the day - a situation which could put Greece at even more risks as the country is thought to have money only until the evening on July 13.
Meanwhile, a draft statement on reforms the Eurogroup requires of Greece was leaked by Reuters on Sunday, reading that Athens should register a 3.5% primary budget surplus by 2018, pursue pension system and labor market reforms and move forward with the privatization of the electricity transmission network operator (ADMIE).
Product market reforms are also needed in line with a list of OECD recommendations.
The draft also includes steps to strengthen the financial sector and to "amend or compensate for legislation adopted during 2015 which have not been agreed with the institutions and run counter to the program commitments". (The last item is about a number of legislative moves by Tsipras and his governments over the past 5 months which international lenders believe contravene the agreements made so far).
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
EU Commissioner for Home Affairs Ylva Johansson conducted an inspection of border control measures at Sofia Airport, marking a significant step in Bulgaria's accession to the Schengen Area by air
In a recent release of the Authoritarian Populism Index 2024, Bulgaria emerges as a focal point for understanding the intricate interplay of political ideologies shaping Europe's landscape
Eurostat's latest report revealed a slowdown in annual inflation across the European Union, with the figure dropping to 2.6% in March 2024 from 2.8% the previous month
Bulgaria finds itself at the bottom of the list in terms of citizens who believe in the benefits of EU membership, according to the latest Eurobarometer survey results
A scheduled conference of far-right European politicians, including Hungarian Prime Minister Viktor Orbán and former British MEP Nigel Farage, was abruptly halted by police in Brussels
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
Bulgaria news
Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News."
Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria.
Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper.
News Bulgaria