The idea of creating a blocked fund to repay interest on Greek government bonds "It's not absurd." This is the opinion of Jean-Claude Juncker, president of the Eurogroup, on the proposal launched by France and Germany at the end of yesterday's bilateral agreement between Angela Merkel and Nicolas Sarkozy to force Athens to honor its debts.
The escrow account could eventually be used, but only as a second step, to provide the Greek government with expendable resources. However, "some technical details" on this mechanism remain to be verified, Juncker specified on Rbb radio.
According to the Financial Times, the mechanism developed by the Franco-German axis would have also supported by the European Commission and would make it possible to avoid the risk of uncontrolled bankruptcy of the country.
This would be a more feasible path than the proposal put forward by Germany during the last meeting of the finance ministers of the euro area. Berlin intended de facto to commission Greece in budgetary matters. The new proposal instead it would not formally affect the national sovereignty of the Hellenic country.
