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This article was published on February 6, 2015 at 19:05.
The last change is the February 6, 2015 at 20:19.
Without a bridge loan to Greece is likely to run out of funds at the end of February. The warning comes from government sources quoted by Dow Jones Athens. The Greek Government, says the Ministry of Economy, serve 4000000000-5000000000 by July to meet the deadlines on the debt.
The next week is crucial to avoid the worst case scenario. Wednesday, 11 is in fact scheduled a special meeting of the Eurogroup to find a common solution. Tsipras The Government does not want to continue with the EU-ECB-IMF program, as extended until the end of February. The EU and the ECB insist vice versa because you can find an agreement with the troika, without which are not available to provide new loans.
Meanwhile, more bad news for Tsipras arriving from Standard & amp; Poor’s.L’agenzia American has indeed cut Greece’s sovereign debt rating from B to B-, the outlook is negative. The rating remains under review with negative implications, which means you could get another downgrade.
Ironically, on 14 September, therefore, less than five months ago, the same agency had promoted Greece from B- to B as a prize of fiscal consolidation made by the country. The elections of January 25, the victory of Tsipras and the new government anti-austerity have obviously changed your mind Agency.
The decision, says S & amp; P, comes after the moves of the ECB, that two days ago decided to no longer accept the Greek government bonds as collateral from Greek banks. For S & amp; P, the statement said, time is running out and saw the state of the economy of Athens is “reduced the time frame in which the new government can reach an agreement for a funding program with creditors.”
“Although the new government greek has been in office for less than two weeks,” wrote S & amp; P, “we believe that its limited liquidity and the approaching deadlines on debt limit its flexibility ‘in negotiations »with creditors. According to the rating agency, “the continuation of negotiations with creditors could lead to further pressure on financial stability” in the form of withdrawals at bank counters and, in the “worst case”, “the imposition of capital controls and the loss of access to finance as a lender of last resort may result in the output of Greece Economic and Monetary Union. ” The confirmation of the current rating on Greece could occur if “the government’s negotiations with creditors will end, with flows of sufficient funding to meet its financial obligations.”
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