Thursday, June 18, 2015

Greece, no deal on Monday new vertex. Troubled banks – The Republic

MILAN – “No agreement Eurogroup”, writes the Commission Vice-President Valdis Dombrovskis on Twitter after the meeting, adding that there is a “strong signal that Greece is committed to serious negotiations” and “the Eurogroup is ready to meet at any time”.



The President of the European Council Donald Tusk has called for Monday at 19 a Eurosummit, an extraordinary summit of heads of state and government of the countries in the euro sull’irrisolto case Greece. Reuters reports that representatives of the ECB at the meeting said they were not sure that Greek banks will open Monday, because of increased withdrawals of deposits in recent times. Entries for now denied by the ECB itself. According to Reuters, during the closed-door meeting the President of the Euro Jeroen Dijsselbloem he has asked the member of the executive board of the ECB Benoit Coeuré if the banks will open tomorrow ” yes tomorrow, Monday, I do not know, “was the answer. Banking sources report that between Monday and Wednesday savers Greeks have withdrawn about 2 billion euro current accounts.

It was the German Chancellor, Angela Merkel , to wear the clothes of the fireman, saying he was ” convinced “that an agreement between Greece and creditors” was still possible. ” He had done talking to Members of the Bundestag, its parliament, in the aftermath of the new positions radicals by Alexis Tsipras and on the day of a Eurogroup that the predictions gave as interlocutory. No breakthrough in talks between Athens and international creditors, respectively called to make a plan of reform and unlock financial aid to at least 7.2 billion.

“I remain convinced that when you want to, you can,” he Merkel said again. “If those responsible Greeks have this will, an agreement is possible,” but Greece has to “engage in a decisive structural reform promises,” he added. “Greece was on track but has not completed the process. Unfortunately it has again and again postponed a number of important reforms,” ​​he explained in relation to the process that began with the Troika and then stopped for a clear electoral success of Syriza. “These reforms are not only a prerequisite for closing the second program – he added – but they are also the precondition for the aid can have a sustainable effect.” For Chancellor “unlike Athens, Portugal, Ireland and Spain have faced the programs and are back on their feet.” He also reiterated the concept expressed several times in recent days, when she was one of the few politicians to moderate the tone: “The efforts are aimed at Germany that Greece remains in the euro. We want people in Greece, as happened to the People in Ireland, Portugal and Spain, have a better perspective. “

According to the Greek newspaper Kathimerini , the EU Commission and the ECB would be working on the draft of a possible statement by the debt restructuring if Greece will make an agreement with the creditors. A possibility that the President of the Euro has not ruled out, but Jeron Dijsselbloem He added: “Restructuring alone if necessary.” “Too little progress to reach an agreement with Greece for the completion of the second aid program with the last tranche of 7.2 billion”, noted “with regret” the president of the Eurogroup Jeroen Dijsselbloem after the meeting. The president added, however, to believe that “a deal is still possible” before the end of the month.
And if there will be a better proposal would bring together the Eurogroup before dell’Eurosummit scheduled for Monday.

The Minister of Economy, Pier Carlo Padoan , coming to Luxembourg for the summit had merely responded “no” when asked if he was concerned about the state of negotiations. The spokesman for the EU Commission, Margaritis Schinas, on a possible Grexit meanwhile continues to keep the line of the “irreversibility” of the euro.

Peacemaker the intent of the Greek Minister Yanis Varoufakis , arriving to the summit made it clear that the goal is “to replace an expensive dissent with an effective consensus”. The fate of Athens also intervened Christine Lagarde , the director of the IMF, who explained that it will end in default from 1 July compared to the debts to the International Monetary Fund if not reimburse the 1.6 billion due Fund as repayment of loans by June 30. Lagarde for the deadline is final, there is a period of ‘grace’ or possibility of postponement: “It will be in default, will be in arrears in respect of the IMF by July 1 but I hope it is not so.” “We hope that the next few days may be used by the Greeks to define a set of proposals credible, we expect a tangible proposal and we are ready to give all our contribution,” he said in the evening.

The government greek “seriously back to the table” with the creditors “in a constructive way, to accept a reasonable compromise and avoid a catastrophic fate.” It ‘was the call of the EU Commissioner for Economic Affairs, Pierre Moscovici at the end of the Euro.

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