Greece debt crisis: German plan demands €50bn of state assets is transferred to external fund

[think]

Greece debt crisis: German plan demands €50bn of state assets is transferred to external fund

ALEXANDER SEHMER Sunday 12 July 2015

Fiscal hawks among Greece's eurozone creditors are taking an openly firmer line with Athens, including a proposal that Greece transfer €50bn of state assets into a fund to be managed by an external agency.

The plan appears in a paper from the German finance ministry and calls for either the transfer of state assets or a temporary "time-out" from the eurozone.

Eurozone members have found themselves increasingly split on Greece following Greece's rejection of bailout terms in a referendum and the submission of an alternative plan by Greek Prime Minister Alexis Tsipras that was largely in line with the creditors' inital proposals.

Germany and other more fiscal conservative Eurozone members say Greece must now go further in its austerity measures and provide greater assurance.

Others, including France and Italy, favour a speedier agreement on emergency aid....

Full article:
http://www.independent.co.uk/news/world/europe/greek-debt-crisis-german-plan-for-greece-would-see-50bn-of-state-assets-managed-by-external-fund-10383276.html

[Jeroen]

1. As a EU citizen, I feel embarressed

Sure, reforms in Greece are necessary and it's understandable that the creditors want strong guarantees.
This, however, like Paul Krugman has said, is a coup, a take over. It's disgusting.

[meow2u3]

2. Reads like an extortion letter

Germany to Greece: Nice country ya have there. It would be a shame if something happened to it. Just sayin'.