Emergency summit on March 13th

Dow Jones Newswires cited diplomatic sources, when it revealed its breaking news of the emergency summit on March 13th.

According to this report, this Summit will bring together only the leaders of 17 members of the Eurozone in order to reach, if possible, an agreement on the integrated solution package for Eurozone reforms.

Worthy of note is the fact that the famous Franco-German, so-called Covenant of Competitiveness, is still treated with distrust and skepticism by several European leaders, even by “traditional” allies of Germany, making it imperative that further negotiations and processes take place to lead the EU into a final conclusion as to the main solution to the debt problem plaguing the Eurozone.

Jean-Claude Juncker: The Euro will survive like Greece did.
Meanwhile, Jean-Claude Juncker met with George Papandreou at Maximou. “The euro is not in danger and will survive. Greece will also survive thanks to the euro”, stated Luxembourg’s Prime Minister and head of the Eurogroup. The long meeting with the Greek premier also included Finance Minister Giorgos Papakonstantinou and Foreign Minister Dimitris Droutsas.

In Mr. Juncker’s statements, he underlined that the repayment period of the Greek debt must be extended, and he expressed his full support for Greece’s attempt, stating that all but a few idiots admire Greece in Europe.
In relation to the repayment of Greece’s debt, Mr. Juncker said that when he refers to something, then all can rest assured that the consent of the EU has been given; while mentioning  the program of the Greek government, he expressed his agreement with it, adding that if goals are not achieved fully, other measures will be taken.

As far as the debate on the Competitiveness Agreement already underway in Europe is concerned, Mr. Juncker said that there has been a proposal by both Germany and France; both Greece and Luxembourg are in favour of  strengthening competitiveness, but neither has been convinced or satisfied by the last summit. Germany and France’s proposals are under discussion and they will be judged “when the baby’s born”, stated Mr. Juncker characteristically.

On the Greek Prime Minister’s part, he stated all the issues discussed with Mr. Juncker, while in reference to the European debt crisis, Mr Papandreou stated that Europe must make the necessary decisions quickly.
The PM said that Greece seeks a comprehensive solution to this issue and in terms of the program implementation, he underlined that the Greek people had chosen that radical changes were needed.
Extraordinary measures to rescue the country had to be taken because of debts and deficits, stated Mr. Papandreou, adding that the goal now is to improve the country through changes unrelated to the emergency measures, and the message is that Greece is on the right track and Greek citizens must look to the future with optimism.

Meeting between Juncker and Papakonstantinou
The government is in a race against time to influence decisions about the harsh measures of the common European policy, seeking allies and foundations in European partners.

Finance Minister Giorgos Papakonstantinou sought to achieve this in the meeting with Eurogroup President Jean-Claude Juncker. Mr. Juncker was supportive in all matters, and seemed to understand how decisions should be made as soon as possible on matters of extension of the repayment scheme, the size and ability of the support mechanism, and its flexibility.

The government is now anxious to find time to intervene in order to avoid the worst within the Competitiveness Agreement that Germany is proposing. The government mostly seeks to exploit divisions between partners on specific issues and see how clear the German package (an increase inage limits, etc) is, and whether it can be connected to the Agreement. The first talks will be held on February 14th, while the March summit will ratify the final decisions