Süddeutsche Zeitung: Debt decisions after the elections

Angela Merkel had invoked the logic of the glass that is half full in her meeting with Antonis Samaras in Berlin on Nov. 22, noting that the market works best when we see it half full. "This approach should be used without fiddling with the figures. As long as one shows a little confidence. This is what I always do with Samaras and this spirit governs our conversations. This does not mean there will be an easing of obligations. I believe that a lot have already done in recent years."

EU officials, who are not named, repeated this message and revealed to the German Süddeutsche Zeitung that the evaluation of financial data to determine whether the Greek debt is sustainable will probably be made in June after the elections.

According to the report in Süddeutsche Zeitung, an assessment of the economic situation in Greece is likely to be made in April 2014 and will determine if the Greek debt is sustainable. According to sources in Brussels cited by the German newspaper, the checking of data will probably be made in June. Samara does not like this schedule, and would rather reach the European elections with a positive message. But mostly this is that Merkel does not want just because of the elections.

If it is confirmed that the Europeans decided that the debate on debt relief will be after the elections, we face a new -and worse- situation. This is because the Greek government aims to complete the debate on a debt cu in April - in any event before the elections - and tries to prevent the Europeans postpone their decisions for the summer of 2014 so they will not give the impression to their voters of giving new aid to Greece.

However, even the most optimistic government officials have repelled what they were saying about a new haircut on the Greek debt and talk of facilitations with indirect costs for European taxpayers.