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Athens will ask for more time, but Merkel is inflexible: "No postponements for the commitments made"

The Greek Prime Minister Samaras intends to ask for a two-year postponement to 2016 to implement the 11,5 billion austerity plan agreed with the Troika – But the German government immediately puts their hands forward: “The agreement in force is valid from Athens with the EU, the IMF and the ECB”.

Athens will ask for more time, but Merkel is inflexible: "No postponements for the commitments made"

Athens ready to counterattack. According to the Financial Times the Greek premier, Antonis Samaras, is preparing to ask for a two-year postponement, to 2016, of the objectives already set e approved by the Troika (EU, ECB and IMF). Samaras himself will travel to Berlin on August 24 and Paris on August 25 to support the request before German Chancellor Angela Merkel and French President François Hollande. But a first stop came from Germany: "The agreement in force made by Athens with the EU, the IMF and the ECB is valid", said the spokesman for the German government, Steffen Seibert, according to whom no decision can be taken until the Troika has concluded, in September, the review of the state of reforms in Athens.

“The Chancellor,” continued Steffen, “first of all will listen to what Samaras has to say about the situation in Greece and the implementation of her programme. On your part, and on the part of the entire German government, the agreed memorandum which sets out what Greece must achieve and which remains valid for us, forms the basis for working together or helping Greece ”.

According to a German government source, Samaras will also meet with Eurogroup president Jean-Claude Juncker. The Hellenic premier will ask that he be given 4 years, instead of 2, to implement the 11,5 billion euro austerity package with the respective budget cuts, which will increase social unease in the country. In exchange for these sacrifices, Samaras awaits the next tranche of aid worth 31 billion euros which, however, according to rumors in the Financial Times, he will not see before October. In fact, throughout September the Troika inspectors will observe the implementation of the agreed measures and only at the end of the month will they take a decision on it.

Meanwhile, the country's economy continues to suffer. Greece confirmed itself in recession with GDP that, in the second quarter, it tumbled another 6,2% , unemployment that keeps touching new records. However, Athens is about to successfully overcome the first imminent downside: on August 20 it has to repay 3,2 billion to the ECB, but on Tuesday the Greek Treasury managed to place 4 billion 3-month bonds with which he will be able to repay Frankfurt.

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