BERLIN (MNI) – Greece is not on the agenda of the EU summit this
Thursday and Friday, but EU leaders will likely talk informally about
the issue, a senior German government official said Wednesday.
“Greece is not on the agenda of the EU Council and no written
statement on the issue has been prepared,” the source explained. “But I
assume that the leaders will discuss it on an informal basis,” he said.
The next important date for the Greek issue will the Eurogroup
meeting on July 3, the official said. The EU leaders at their summit
tomorrow and Friday likely won’t make any changes to the decisions by
the EU finance ministers on Greece made earlier this week, he remarked.
German Chancellor Angela Merkel said earlier today that the new
financial aid program for Greece is to be adopted at an extraordinary
meeting of Eurozone finance ministers on July 3.
The German source said that the Eurozone finance ministers are now
conducting the negotiations with the financial industry about a
voluntary participation in the next Greek rescue package.
Given that some rating agencies have warned that even a voluntary
private sector involvement (PSI) could be seen as a default, there will
be likely also talks with the agencies, the official explained. “We want
to find a solution which allows a roll-over [of Greek debt] which does
not end in a catastrophe,” he remarked.
In order for the new Greek aid package to be adopted by the EU and
the IMF it is also necessary that the main Greek opposition parties
approve the adjustment program, the official said. There needs to be a
“broad political majority” for the austerity measures and structural
reforms, he said.
In other remarks, the source said he expected the EU leaders at
their summit to approve Italian central bank governor Mario Draghi to
become the next head of the European Central Bank when incumbent
President Jean-Claude Trichet retires in autumn.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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