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DAX Crashes After Germany Warns Greek Bailout “Insufficient”
Wednesday, August 12, 2015 9:18
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zerohedge.com / by Tyler Durden / 08/12/2015 10:07
With the Greek bailout deal now nearly done, all that stands in the way of disbursal is the Greek parliamnent and a predictably incalcitrant Germany which, according to Bild (citing EU sources) has now determined that the new bailout plan is “insufficient.” Lawmakers reportedly want “immediate answers” to three questions. Here’s the summary, via Bloomberg:
- German govt sees agreement between creditors and Greek govt on 3rd bailout as insufficient, Germany’s Bild-Zeitung reports, citing EU officials it doesn’t name and written Finance Ministry analysis.
- Germany sees open questions regarding participation of IMF, debt sustainability and privatizations
- Implementation of many measures not foreseen before October or November
- “Some very important measures are not yet implemented and are not specified”
- Three basic questions must be answered immediately:
- Whether IMF agreed to all terms of bailout completely
- Whether debt sustainability can be secured although debt relief is planned to take place only later
- Whether independent privatization fund can start work quickly and could take over Greek banks
- Analysis criticizes that agreement falls short of almost all decisions taken by special euro region summit in July
The post DAX Crashes After Germany Warns Greek Bailout “Insufficient” appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/08/12/dax-crashes-after-germany-warns-greek-bailout-insufficient-2/
