The European Commission hopes for endorsement during the sessions of the next tranche of financial assistance, without which the country runs the risk of defaulted, and on finding a consensus on additional financial support from the country. Encore, Encore! A year ago, approving financial assistance, lenders are required to Greece replicated on a rigid plan of fiscal consolidation. But the country does not fit into his goal. Hope that Greece will be able to return to the market and gradually begin to service its debts in 2012, as originally suggested creditors, has disappeared: the rating agencies inevitably lower the assessment of the country, the economy is not actively seeking to get out of the pit. Therefore, the EU authorities and the IMF are seeking ways to further support the country, even discussing a partial restructuring of its public debt – with the possibility of prolongation of the participation of private investors. Tens of millions of dollars of debt on the balance of Greece is the European Central Bank. Eurogroup June 14 held an extraordinary meeting in Greece, but its members did not find consensus on an additional batch of salvation of Greece, official announcements after the meeting has not been done. Initially, the Eurogroup meeting was scheduled for June 20, but now it will be held in two days – June 19 and 20 show the materials the EU. Last week, European Commissioner Olli Rehn expressed hope that these meetings will be an understanding of the additional terms of support for Greece to take a final decision at a meeting of financial and economic authorities of the EU July 11. Political upheavals Eurozone and the IMF provide finpomoschi Greece tranches after the quarterly inspection mission to creditors – "Troika", the performance of its success plan for the normalization of the economy. After a stay in Athens (usually within two weeks), "Troika" gives his Eurogroup and the IMF report for final approval of the tranche. The last mission was delayed in the Greek capital for about a month and did not provide the report. At this time, the Greek government has approved an additional plan to cut budget spending by about 28 billion euros, as well as increased privatization of up to 50 billion euros until 2015. "Troika" in general appreciated the effort of Greece to achieve its goals by creditors on macroeconomic performance and has provided its report to the Eurogroup. EU officials have suggested that the next tranche of the loan may be issued in early July instead of the previously scheduled end of June. But last week the parliament of Greece agreed on additional "belt-tightening." After that, the Prime Minister has made significant changes in the parliament . One of the first things the new Cabinet should be pushing through parliament a draft additional budget consolidation. It is expected that the vote will take place next week. Trade unions have warned of new protests and strikes. The European Commission expects that the Eurogroup and the IMF still approve the next tranche of Greece (total volume – 12 billion euros, 8.7 billion – from the euro-zone countries), otherwise, according to the representatives of Greece itself, the country can avoid a default. Greece enters the euro zone, and its default could seriously hit the single currency union and strength in general. EU and IMF, in addition to this southern country, providing external financial assistance to two other eurozone countries – Ireland and Portugal.
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