Advertisement

Greece lodges official complaint against Germany and signs OECD reform agreement

Alexis Tsipras met with the Organisation for Economic Co-operation and Development's (OECD) ...
Newstalk
Newstalk

16.49 12 Mar 2015


Share this article


Greece lodges official complai...

Greece lodges official complaint against Germany and signs OECD reform agreement

Newstalk
Newstalk

16.49 12 Mar 2015


Share this article


Alexis Tsipras met with the Organisation for Economic Co-operation and Development's (OECD) secretary-general Angel Gurria in Paris today, and signed a cooperation deal on economic reforms.

The OECD will provide "know-how" to the country as it designs economic reforms that will satisfy both the country's creditors and the Syriza government.

Mr Tsipras says that, "The reforms we are discussing with the OECD are not reforms that have been imposed upon us. No. They are reforms we would like to introduce."

Advertisement

The OECD has been critical of European institutions austerity-focused response to the economic crisis - at today's joint-press conference with Mr Gurria, the Greek prime minister likened the reforms that the troika had pushed on Greece as a form of economic "blackmail."

Crying foul 

It was also announced today that Greece has lodged an official complaint with the German foreign ministry against the German finance minister, Wolfgang Schäuble after he described his Greek counter-part Yanis Varoufakis as “foolishly naive” when dealing with the media.

The German minister has responded by saying that it is "nonsense" to suggest that he insulted Mr Varoufakis.

This latest public confrontation between Greek and German officials comes the day after Greece's justice minister threatened to seize German assets to claim reparations for war crimes committed by German forces during World War II.

Liquidity cap 

Multiple banking sources in Greece are reporting that the European Central Bank (ECB) has raised the emergency liquidity cap for Greek banks by some €600m euro - although this is yet to be confirmed.

Jens Weidmann, policymaker at the ECB, and the head of Germany’s Bundesbank spoke in Frankfurt today, he said that Greece is in danger of losing the trust of its euro partners.

He also warned that he does not believe that the Greeks will return to money markets by the middle of this year.


Share this article


Read more about

News

Most Popular