Temporary Grexit was not on the table, says Estonian MP (1)

MP Kalle Palling Photo: ERR
7/13/2015 3:33 PM
Category: International

Head of the Estonian Parliament's European Union Affairs Committee, Kalle Palling, said that a temporary exit of Greece from the euro or partially deleting debt were rejected at the talks between Eurozone leaders.

“A number of preconditions, which could lead to the agreement for a new aid package, were put on paper last night. Already on Wednesday, the Greek Parliament must pass many amendments which focus on VAT and pension reform, and the independence of various institutions from Greece. They are facing similar sleepless nights,” Palling told ERR radio.

He said it is too early to speak about the bailout agreement itself and on points the EU can compromise on, but "speculation on a temporary suspension of the euro or writing off part of the debt were not accepted", Palling added.

If Greece implements the required changes then it may apply for a new bailout of around 82-96 billion euros.

Palling said that part of that money could be found internally in Greece while the rest will come from various institutions such as the ESM and IMF.

“Already this week, Greece must make its first payments to carry on. Finance minister will meet today to solve the problem of giving Greece funding before the bailout aid,” Palling said.

He added that this is probably the last chance for Greece.

J.M. Laats

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