Tsipras called for a bridge program until May, to have the space needed for a new contract talks with the EU Commission, the ECB and the IMF. According Tsipras Berlin and Europe must give a signal to the people greek, which is exhausted and at risk. Tsipras says: “When I return to my country, I will find a Parliament in which the third political force is not a neo-Nazi party, but the Nazi”.
On the day of the meetings with the leaders and the ECB European Commission, comes the first cold shower for the executive Tsipras. After the excitement of the first international meetings with Member States in fact Tsipras Premier and Finance Minister Greek I have to cash in on the first shot by Troika: Eurotower yesterday the decision to suspend the opportunity for Athens to use their government bonds as collateral to get liquidity. The Greek bonds, in other words, without respect of EU agreements, are waste paper. The decision, which risks creating a dangerous chain reaction on the accounts of Athens, does not close completely the possibility of access to emergency credit lines, which are, however, already been almost completely exploited. The risk, described by the agency Bloomberg, is that the date of March 25, there is no liquidity for normal payments, which is a step before the default. The decision of the board of the European Central Bank comes only a few hours away from the summit Dragons-Varoufakis, after which the Governor ECB stated that “at present it is not possible to assume a successful conclusion of the review of the program of aid to Greece.” If it is not a rejection of the line Tsipras, close enough.
The reaction of Athens ad ECB is based optimism, with Finance Minister Yanis Varoufakis which gave a reading “tactic” of the decision of the Eurotower, claiming in a statement that it is “an instrument of political pressure in a time when there are consultations at all levels. And ‘necessary – concluded Varoufakis, that today in Berlin will see the “hawk” Schauble – that there is a willingness to discuss, to find common ground to conclude new agreements. “
Reaction nervous markets after the ECB’s decision not to authorize more Greek bonds as collateral to obtain liquidity. After an opening decidedly negative on all the main squares, in the morning you could appreciate a slow return, with closures still negative almost everywhere; Milan falls to just below one percent with a negative sign. The stop sign imposed by Frankfurt is interpreted by analysts as the belief that by Eurotower ads Tsipras could lead Greece to abandon the plan of reforms. A sort of warning then, waiting to see the first official decisions of the Greek partner. A drag the trading day in Athens was the index for the banking sector, which are the most exposed after the ECB’s decision. Alpha Bank has blocked the losses to -10%, while more than 14% settles the negative of National Bank and Eurobank. In closing the morning of the recovery, with the index that the Greek stood at -5%, limiting losses. And on the day of the meeting between Finance Min ister Greek Varoufakis and his German counterpart Schauble, right from Berlin arrives at this time yet another stop. According to Reuters sources, circulates in fact a government document in which Germany officially asks Athens to distance from the announcements made during the election campaign by Alexis Tsipras. In the document, Berlin confirms the need for the Troika to continue in the verification of compliance with the agreements made by Greece with its European partners. “The Eurogroup – reads – needs clear promises from Athens on the reform front, agreed with the previous government.”
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