The Elysee judge however criminal attitude of the financial rating agencies

The prospect of an agreement in the next few days between the Eurogroup and Athens on the package of aid to the Greece, in return for increased austerity measures, stated yesterday. Which resulted in a rebound of stock markets which dévissaient every day since the start of the week. After the European Commissioner for Economic Affairs, Olli Rehn, has said that negotiations were "about to be completed", while Athens began to clarify the details of the hardening of the conditions imposed on the Greece. The negotiators of the international monetary Fund (IMF), the Union European and the Central Bank (ECB) European would have required, according to a trade unionist speaking to the press after a meeting with Greek Prime Minister George Papandreou that the Greek deficit be reduced are found 14 last year (whereas the limit set by the Pact of stability of the euro is 3) to 4 over two years. A reduction of five points per year, while in February when the 2009 deficit was still estimated at 12, the Greek Government had aimed at a reduction of four points in 2010, and then three points per year in 2011 and 2012.

To achieve this new target would be planned savings budget of EUR 25 billion, as well as among other things, an increase of VAT from 1 to 2 points, the removal of the 13eet 14emois in the public sector, increasing 4 per year, compared to 2, the proportion of employees can be fired, and a multi-year pay freeze in the public sector. After this meeting with the representatives of employees and employers, George Papandreou was to inform the political Council of the party last night. The Secretary General of the Union of the public service, which also called for a general strike next Wednesday, denounced a "package of extremely harsh measures that go contrary to development and that will lead to the recession".

Submit the details of the agreement

Source Brussels, the European Commission could submit the details of the agreement this evening and convene a Council of Finance Ministers of the euro in the wake, Saturday or Sunday. Which would allow the plan to be approved by a Summit of Heads of State and Government, expected a priori on 10 may, the day after the regional elections delicate in Germany for the Government of Angela Merkel, but that the France with other States would like to see forward to 8 on the ground that each day of lost provides ammunition to speculation. "We will leave no speculation destabilize or European countries", also said Nicolas Sarkozy yesterday, on the sidelines of his visit to Beijing, saying the determination of Paris to support "the euro and the Greece", which the rescue plan is "credible". He insisted on "the perfect agreement between the Germany and the France" on ways to resolve the crisis, that is, both the appropriations to be allocated and on efforts to apply to the Greeks. The Elysee judge however criminal attitude of the financial rating agencies. After having been accused of lax before the bankruptcy of Lehman Brothers, the latter currently cause stock and financial storms to each note of sovereign debt deterioration. Standard and Poor's thus degraded debt to two notches Greek Tuesday, to give the rotten duty status (junk), and the Portugal and, on Wednesday, the Spain.

In addition, members of the main opposition parties German yesterday announced that they would approve the Act in terms of assistance, presented Monday next to the Bundestag. Is thus thrown a serious mortgage on the plan, which expedited review needed the green light from the German opposition. In anticipation of his side on a speculative attacks Portuguese debt contagion, the Portuguese Minister of finance, Fernando Teixeira, announced yesterday that he was ready to apply, if necessary, earlier than planned actions required to reduce the public deficit to 8.3 of GDP.

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