Athen stays in Euro-Zone

GiNN.-BerlinKontor.–French President Francois HOLLANDE (a socialist) told the Greek Prime Minister Antonis SAMARAS  (a conservarive) in Paris on August 25: “Greece is part of the eurozone and I want Greece to remain part of the eurozone”= “La Grèce est dans la zone euro, et doit y rester”. German chancellor Angela MERKEL (a christian democrat) reassured Samaras:“I want to say it very clearly – and this is also the aim of the entire German government – that Greece is a part of the eurozone and I would like Greece to remain part of the eurozone.”

After his fact finding mission to Berlin and Paris, where Samaras asked for “more breaths of air”, Europe can be sure. that Athen will get at least two more years to meet the tough terms of Greece’s international bailout. :

France promised – just like Germany – not to make “premature judgments”. Both will await “reliable evidence”. meaning also the “troika verdict” due in September 2012..

Fact is: Greece’s continued access to the bailout packages hinges on a favorable verdict from the “troika”- debt inspectors – the European Union, (EU) European Central Bank (ECB) and the International Monetary Fund (IMF). Samaras knows: If Greece is found to have failed on key economic reforms that are conditions of the bailout loan, vital funds could be halted.

German Finance Minister Wolfgang Schäuble , responding to a little “clause” in the Greek bailout deal allowing more time for reform targets in the case of an unexpected recession, reiiterated that this is “NOT legally binding”. That’s what he told Samaras.
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Anyhow – after the bi-conservative Merkel-Sarkozy-CoOp (MerKozy” we see now a new – this time “chrisitian-socialist partnership” in the making – a “Merk(H)ollande- Pro-Europe.Power-Couple”?!.

We shall see what will be – but it seems that Greece is on the winner road again
-Ps/GiNN

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