EU Finance Ministers Confirm That New Aid To Greece Is In Place In October.

In September 16th,

After the first working session in the morning, Ollie Ryan, member of the European Commission responsible for monetary and economic affairs, said that the sharp deterioration of the European financial market in recent weeks has had an impact on the real economy.

The European Commission's latest economic forecast has sharply lowered the euro zone's growth forecast in the second half of the year, saying that the euro area's economic growth will be reduced by 0.5% over the first half of the year.

Juncker, the chairman of the euro zone, told reporters that the next batch of loans to Greece will be delivered in October, but the premise is that Greece will continue to implement fiscal reduction measures.

The worsening situation in the euro zone has led the US and emerging countries to call on the EU to take more decisive actions to prevent the euro zone debt crisis from causing worldwide recession.

Therefore, on the 16 th, the finance ministers of the euro area and the US Treasury Secretary Geithner promised to continue strong global concerted action to cope with the constantly watched economic situation.

But Juncker also acknowledged that there are still many differences between Europe and the United States, so the specific concerted actions can be achieved. For example, it is difficult for the eurozone to emulate the United States and introduce more economic stimulus measures.

It has been reported that Geithner's trip will continue to put pressure on the euro zone, but Juncker said Geithner did not "teach the EU", "the two sides only expressed their views on each other".

On the part of the emerging market, there are reports that BRICs plan to co-operate to increase the intensity of buying euro zone state debt.

In response, Juncker told our reporter that the eurozone and BRICs countries have not held formal discussions on this issue.

But Asia's enthusiasm for investment in Europe is indeed growing.

Klaus Loegering, chief executive of the European financial stability tool, called Asia "a very stable investor".

In the past few weeks, the euro has fallen sharply against the US dollar (1.3792, -0.0088, -0.63%), as the market finds that the possibility of a Greek default is more than 90%, and because of the exposure to Greek bonds and financial systems, the two largest banks in France have been downgraded by rating agency Moodie and the euro zone has collapsed.

Greece is in the eye of this hurricane.

Two weeks ago, due to the fact that Greece was unable to meet the target of the fiscal reduction plan in the assessment process, the European Union / European Central Bank /IMF three party left Athens, and Greece's sixth batch of funds for the first round of loans was questioned.

Therefore, the focus of this conference is

The European Union returned to Greece this week.

The three party panel's assessment of Greece will also be resumed and the negotiations are expected to be completed by the end of September.

Juncker told reporters after the meeting that the next batch of loans to Greece will be delivered in October, but the premise is that Greece will continue to implement fiscal reduction measures.

The sixth batch is 8 billion euros, and the planned appropriation is in late September.

If the funding is not available, the Greek government will be cut off by the middle of October.

Interest rates on Greek bonds have gone up in recent days, reaching 25.3% at 14, and 23 percentage points against German debt.

Although negotiations are still under way, the Sixth Batch of loans is expected to be released on time.

After 14 summits of France, Germany and Greece, Germany and France both said they would continue to support Greece and would guarantee Greece to remain in the euro area.

However, there is more uncertainty about the second round of Greece's rescue, at least at this meeting of finance ministers.

Finland first proposed the second round of Greece.

"Euro bonds" feasible study autumn introduced

Before arriving at the venue, the Belgian finance minister said that euro bonds would be discussed at the conference, but "(Implementation) is not the present".

It seems that the euro bond, which is regarded as political taboo, is gaining more support.

On September 14th, Barroso, chairman of the European Commission, made clear in the EU parliament that the European Commission would soon submit various options for issuing Euro bonds, some of which could be implemented under the current EU constitution, while others might require constitutional amendments.

At present, Germany, including Finland, Holland and other countries, is strongly opposed to Euro bonds.

On the one hand, they worry about raising their borrowing costs. On the one hand, they believe that this is a step towards a fiscal union, and that the economically developed countries bear greater burden to the southern European countries.

Therefore, the euro bond is far from the real introduction.

In this regard, German finance minister Wolfgang Schauble also told reporters: "it is very clear that we must solve our problems on the basis of the existing constitution.

It takes time to amend the constitution. "

But after the end of the eurozone finance ministers, an EU official told our reporter that the talks did not mention Euro bonds because there was no clear definition of the issue.

He also revealed that the Commission's ongoing research is to complete the definition process and explore the advantages and disadvantages of issuing Euro bonds. The report is expected to be introduced in the autumn.

At the news conference, Ollie Ryan said that the prerequisite for issuing Euro bonds is to further strengthen economic governance in the euro area, or else no one will benefit.