Banks and Stock Exchange closed Monday in Greece. This was announced by Prime Minister Alexis Tsipra. The Council for stability ‘financial greek, instead, raised, and recommended the closure of banks for the next 6 days. That recommendation should therefore banks reopen Tuesday ‘July 7. The stop should come to understand Monday ‘July 6, the day after the celebration of the referendum on the rescue plan announced by the government for next Sunday July 5. Code today at ATMs. The ECB meanwhile not turn off the taps to Greek banks mentenenedo unchanged emergency funds. Are difficult times for Greece but also for Europe after the decision of the prime minister to reject the proposal of the creditors and to hold a referendum. (See EU proposal)
“The attempts to erase the democratic process is an insult and a disgrace to the democratic tradition in Europe,” said Tsipras, ensuring that the deposits of citizens are safe and accusing the ECB for the decision to close the banks and the stock market.
The European Central Bank, added, however, does not “stop the process of the referendum.” The countries of the euro, he added, “may give the ECB the freedom ‘to restore liquidity’ banks also very night.” The decision to reject the Greek request “for a short extension of the program,” points out, “is an act unprecedented by European standards and puts in question the right of a sovereign people to decide.”
” The decisions of the ECB and the Eurogroup have one goal: groped to stifle the will ‘of the people greek, then tweeted Tsipras adding, “they will not succeed: the exact opposite will happen. The greek people will resist with even more tenacity. “
Meanwhile, the US President, Barack Obama, today had a telephone conversation with German Chancellor, Angela Merkel. The two leaders, reports the White House, agreed that it is “crucial to take a path that will allow Greece to reform and growth within the eurozone.” The economic team of the two heads of state will stay in “close contact” to “monitor the situation.”
“The Bank of Greece, as a member of the Eurosystem, will take all the necessary measures to ensure financial stability for Greek citizens in these difficult circumstances, “he said the governor of the Bank of Greece, Yanni Stournaras in the statement released today by the ECB at the end of the Board of Governors.
The Governing Council of the ECB has left unchanged emergency funds Ela (emergency liquidity assistance). The Governing Council, the statement of the Frankfurt Institute, “has decided to maintain the ceiling for the grant emergency liquidity (ELA) to Greek banks to the level adopted Friday, June 26th.” The ECB is said however “ready to reconsider its decision.” and it states that ‘will continue to closely monitor the situation and the potential implications “that these circumstances will have” monetary policy “in the euro area.
The Governing Council of the ECB, the note continues,” It took note of the decision of the greek government to hold a referendum “for July 5 and” the failure to extend the bailout program “that expires on June 30. Following these decisions, the ECB “will work closely the Bank of Greece to maintain financial stability.”
The Governing Council of the ECB has also welcomed “welcomes” the commitment of ministers member states of the euro area “to take all necessary measures to further improve
strength of the economies of the euro area and to be ready to take measures to strengthen the Economic and Monetary Union. “
The commitment of the Eurogroup and the ECB” to use all available tools to preserve the integrity and stability of the euro area “is very positive and shows that the euro area” is now in a strong position to respond to any developments in a timely and effective according to the needs, “he said Director of the IMF, Christine Lagarde. “I informed the Executive Board of the IMF on the inconclusive result of the recent discussions on Greece in Brussels. I shared my disappointment and reiterated our commitment to continue working with the Greek authorities, “Lagarde continued.
” The heads of government of the EU must act with each other and the German Chancellor, Angela Merkel , holds, as a representative of the country most important key to the solution. I hope you will use it, “he said in an interview with Bild Finance Minister greek Yanis Varoufakis.
” We could not accept the proposal, but – says Varoufakis – we could not reject it simply because of the importance of the matter for the future of Greece. For this reason we decided to reach out to our citizens to give them a choice “whether to accept the proposal made by the creditors. The greek minister, however, said he was “open to new proposals from the European institutions” after the failure of negotiations yesterday. “We have already put our proposals on the table. Now it is up to European institutions to show good will, “he stressed again Varoufakis.
The referendum next Sunday there will be,” whether they like it or not our partners, “said Tsipras in the night in Parliament, urging Greeks to reject the proposals of the international creditors. For the deputies, who approved the referendum with 178 votes in favor and 120 against, Tsipras assured that the result of the referendum will be respected.
“With a negative answer to the referendum there is a real risk of an exit of the euro in Greece,” he said the microphones of ‘Europe 1-itele-Le Monde, the French prime minister, Manuel Valls. “The referendum – said Valls – is a sovereign choice. You can not fault the choice to consult the people on the part of a government but the Greeks must choose lucidly. ” A priori, detects even the French prime minister, “we know neither one nor the other the economic and political consequences of a Greek exit from the euro. We must do everything possible to ensure that Greece remains in the euro zone. ” However, Valls adds, “you have to respect both democracy and European rules.”
Tsipras’ has failed dramatically and loudly “and his referendum” is a farce, “he says former Greek Prime Minister Antonis Samaras, leader of the conservative New Democracy, in his attack in court against the referendum called for next Sunday. According to the leader of the main opposition force, Tsipras is asking the people greek “to approve the release by the European Union.” “We Greeks want to stay firmly in the heart of Europe – said Samaras – the referendum draws us out of Europe.”
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