The deadline most important of all has come: from midnight today, 30 June, Greece will no longer be under the aid program, and will no longer have the financial umbrella of EU-ECB-IMF which enabled it to repay its debt to date. Today June 30 also expires repayment of 1.6 billion euro to the International Monetary Fund, the result of the grouping of installments in June that the Fund had granted to give Athens a whole month to negotiate without the pressure of deadlines. Below are the next steps of the Greek crisis.
June 30. It expires second aid program. Athens will lose 7.2 billion euro still available in the plan, as well as 1.9 billion profits SMP (Securities Markets Programme, the ECB profits on Greek bond) that will be redistributed to the States instead of ending up in the coffers as provided by Greek ‘ Eurogroup. In addition, due to expire on payment of 1.6 billion to the IMF: if it will not pay, it will technically ‘backlog’, but will not take the default. Other countries have paid late installments of the IMF.
July 5. Greek referendum on the proposal of the creditors.
July 10. They go about 2 billion maturing bonds.
July 13. Payment of another installment to the IMF, to approximately 450 million euro.
July 17. Other government bonds maturing, for a billion or so.
July 20. And ‘the day of possible default, according to many analysts. Athens must repay to the ECB about 3.4 billion, a figure that does not have. To avoid default should, immediately after the referendum, return to the table and negotiate with your creditors quickly a third bailout package, but will also rely on many of the demands made in recent days by creditors.
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