The liquidity crisis puts in check the fate of Athens, while the premier Tsipras is working to restructure the debt. Moody’s warning: “A risk block bank deposits”
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Athens will not refund the 300 million tranche of the IMF on June 5. He does not have enough money in the state coffers. The warning comes from Nikos Filis, spokesman of the parliamentary group of SYRIZA, the issuer private ANT1. “There is no money” to pay back the ” huge ‘IMF loan. Spokesman of the ruling party who then reassures on salaries and pensions, “will be paid, but we will not give money to the creditors”.
Tsipras been refurbished to work for debt EU summit in Riga short
It serves an agreement soon to stem the serious liquidity crisis. The premier greek, Alexis Tsipras, is therefore working to develop measures for debt restructuring greek, to be presented to the summit of EU leaders on 21 and 22 May in Riga.
Items on the day of the summit will be the partnership with Eastern Europe and the Ukrainian crisis, but international diplomacy will not fail to mention the health dell0′economia Athens. The maneuver Tsipras tries a technical adjustment of the aid program with the Group of Brussels and the Eurogroup. The President of the Eurogroup, Jeroem Dijsselbloem, has already held on a possible extension of maturities that will be discussed – in his view – only after an agreement on the current aid program.
From Brussels filter rumors positive. Something you are moving about the current negotiations between creditors and Greece. The Greek delegation tabled the proposals that the Commission considers “very concrete”. Among them: the simplification of VAT (to increase revenue), pensions and the reform of the labor market.
Alarm Moody’s to block bank accounts
Adding fuel to the fire of the liquidity crisis thinks Moody’s. According to the rating agency Athens threatens blocking of bank deposits and warns “serious deterioration” involving monetary reserves and access to bank finance in Greece. Sector on which it decided “negative outlook” on the ratings.
In its latest report, Moody’s adds that, being implausible loosening financial pressures in the coming months, there are “high probability that any restriction on capital and blocks on deposits “.
Already last December – according makers rating – from Greek banks are
been collected over $ 30 billion. Data that do nothing but increase the dependence of Greek institutions on funding from the ECB, currently insured through the emergency channel Ela managed by the Bank of Greece. Renewed economic difficulties – concludes the analysis of Moody’s – that can not be traced back to the share of impaired loans to 38-40% by the end of this year, when they were reduced to 34.2% at the end of 2014.
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