Germany tells Greece, once again, no more money until more bone crushing austerity is implemented

Post originally appeared on Hellenic Insider.

Germany continues to tighten the screws on Greece.

This time, the Eurozone defacto leader, and paymaster has declared one big “nein” to anymore financial aid to Greece until a more detailed plan is put forth and reforms (austerity) are implemented.

We are beginning to think that all of this brinksmanship is really just Germany’s way to push Greece out of the EZ, and SYRIZA’s way of saying to the populace back home, “we wanted to stay but they pushed us out.”

Greece will run out of money by April 20th without more aid, so any way you slice it or dice it, Greece is going to run out of cash unless someone blinks…otherwise a Grexit will finally comes to pass.

Via Reuters…

A senior official in Brussels on Sunday had dismissed the list as “ideas” rather than a plan that Greece could submit to EU and IMF lenders to secure new funds before it runs out of cash next month.

German finance ministry spokesman, Martin Jaeger, said on Monday: “We need to wait for the Greek side to present us with a comprehensive list of reform measures which is suitable for discussion with the institutions and then later in the Eurogroup.”

“The ball is in Greece’s court,” he said, noting that the talks were “complicated, very technical talks” that needed time.

“It depends on the quality of the Greek list and how far they cover the elements that are already mentioned in the memorandum,” he said. “We’re not just dealing with a process in Brussels but measures will also have to be passed by parliament in Athens.”

There was no immediate reaction from Athens on whether a new list of reforms would be submitted ahead of an address by Greek Prime Minister Alexis Tsipras in parliament on Monday on the status of negotiations with lenders.

Lenders discussing the reforms list over the weeekend said it could take several more days before a proper list was ready.

Greek and other euro zone officials from the Euro Working Group are due to discuss the reform plans at 1500 GMT on April 1, a Brussels source said.

Deputy Finance Minister Dimitris Mardas told financial daily Naftemporiki,

“The solutions are known – either there will be a haircut or it will be extended, or (repayment) will be linked to an increase in output or exports, or there will be lower interest rates.”


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