Draghi tied ECB’s Greek funding to bailout compliance. Athens, prove your right, again!


The European Central Bank will resume normal lending to Greek banks When ad Only When Athens has proved it is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday,

On the same moment tax revenues are falling, and Yianis Varoufakis is trying to scrape together cash from government reserves to meet the crucial repayment to the IMF this month, wrote Reuters

The creditors have blocked avenues suggested by Athens for temporary state funding in a drive to ensure Greece complies with the deal before any more aid is released.

The tough line, spelled out after the ECB’s policymaking Governing Council met in Cyprus, added to pressure on Greece’s radical new rulers to implement promised reforms under a bailout they had vowed to scrap but were forced to be extended for four months to avoid running out of money.”The ECB is a rule-based institution. It is not a political institution,” Draghi told a news conference in Nicosia.

“The ECB is the first to wish to re-start the financing to the Greek economy provided the conditions are in place, and the conditions are that a process which suggests a successful completion of the review be put in place quickly. That is the condition and we will certainly welcome such a development.”

The required measures include pension reform, privatizations and a streamlining of value added tax to which Tsipras’ hard left Syriza party is bitterly opposed.

Greece's struggle to breathe 

Tsipras: Sure there was a set up plan

The Prime Minister, had reccently clearly mentioned the presense of “a plan”, well coordinated on a suffocating pressure environment in which the negotiation took place,he said,  talking about a  “mined step” a “rigged trap”,set by the conservative forces of Europe in cooperation with Samars ex-governmenet, Prime Tsipras has said.

“We went to Europe’s battle with mined every step. The most aggressive conservative forces in Europe, had set a trap in cooperation with the government of Samaras, aiming to financially crunch and overthrow the government.

Aiming, expained Alexis Tsipras, to acheive the so-called left  or anti-memorandum parenthesis

  • “We went to the eurozone  trading by pre- fixed , and pre-cut by Samaras himmself  constricting timeframes.

    With all the state funds emptied and the banks beyond their limit.

    With papers and e-mails. marked by the commitments of the previous government and their patrons
    With the knife of  our credit suffocation on the throat.”


“They had set everything ready to lead us to wreck, leading the country itself to wreck .” he said.

” Their plan, therefore, was and is to lead our government to wear, subversion, or unconditional surrender before this government’s work started to bear its fruits…

….And before the Greek example affects the correlations in other countries.”

The Prime minister concluded adding emphatically

” We will not escape from the responsibilities we have undertaken. Those who believe this will be left  disappointed. “


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