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Wednesday, 17 June, 2015

EU Juncker Proposal Still On Table For Greece -Sources MNI

EU Juncker Proposal Still On Table For Greece -Sources –Adds Commission Decision To Abolish Task Force After Ninth Paragraph By Angelika Papamiltiadou ATHENS (MNI) – European Commission President Jean-Claude Juncker’s proposal to the Greek government is still on the table if Athens is willing to table the necessary counter measures, to offset those they reject, a top commission source told MNI Tuesday. Despite Juncker’s outburst earlier Tuesday flatly accusing the Greek Prime Minister Alexis Tsipras of not telling the truth about the commission’s proposal on Greece, a top commission official said the aim of all sides is to get a sensible agreement. “If the Greek government wishes our help and tables the counter measures of the value that we have asked, then the Commission will do whatever necessary to reach an agreement with all parties involved” the source said suggesting if the EU is on board then the IMF would also be forced to agree to a solution. The top official added there is now a lot of mistrust between the Greek government and its creditors but in the end “the Greek people should not suffer.” “The Greek proposals were short in numbers despite the fact that Juncker met with Tsipras twice in the last week and was explained to the Greek premier how a deal could be reached. One example was to cut military spending by around E450 million annually but instead the Greek counter proposal was E200 million” the source added. “Juncker offered Tsipras several alternatives, in writing, to help speed up the process,” the official claimed. “But while during the meeting, both the Greek premier and his minister of state seemed willing to agree and were positive, they later announced they rejected the proposals as inhumane.” He echoed Juncker’s statements that the commission’s proposal was not presented to the Greek public correctly and pointed towards a strategy for clash on behalf of the Greek government. Another senior EU official said “everything today is at a standstill regarding Greece” adding that many officials believed Greece’s aim is to “shake up” the Eurozone in order to get the creditors to back down from their demands. “I believe their logic is that the Eurozone periphery bonds will rise sharply as we approach the June 30 deadline, forcing the EU to back down,” the source said. “There is a general feeling that we are being played.” Another Commission source told MNI the European Commission will announce on Wednesday the abolishment of the Task Force, a body that was supervising developments in the bailout programme countries and was often criticised by Greece for interfering with domestic policies. “The commission will announced tomorrow (Wednesday) that the so called Task Force will no longer exist after June. We will form a Support Group for Growth under Vice President Valdis Dombrovskis, who will guide the effort” the source said. He went on to say that from now on the Commission’s General Secretariat will have the responsibility, and the resources and technical expertise will no longer be under DGECFIN. “This way,” the source explained, “countries such as Greece and Cyprus, still in bail-out programmes, won’t feel that someone is dictating them what to do. The Task Force has been stigmatised. From now on, we can give these countries all the technical support they need through the proper channels.” Archr LLP is Authorised and regulated by the Financial Conduct Authority (FCA reference 617163). Archr LLP is not covered by the Financial Services Compensation Scheme (FSCS). Archr is registered in England and Wales No. OC371018. Registered office Chancery House, 30 St Johns Road, Woking, Surrey, GU21 7SA This message may contain confidential or privileged information. If you are not the intended recipient, please advise us immediately and delete this message. The unauthorised use, disclosure, distribution and/or copying of this e-mail or any information it contains is prohibited. This information is not, and should not be construed as, a recommendation, solicitation or offer to buy or sell any securities or related financial products. This information does not constitute investment advice, does not constitute a personal recommendation and has been prepared without regard to the individual financial circumstances, needs or objectives of persons who receive it. You are receiving this email because you are a valued client of Archr.

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