THE CRISIS OF ATHENS
Milan , June 10, 2015 – 24:23
Before the clash then peace. The European Commission believes that the latest information submitted by Greece “does not reflect the state of the discussions that we have been between the president and Prime Minister Juncker Tsipras last Wednesday and between the Commissioner and the Minister of Finance Moscovici Hellenic Monday.” This was the statement of the spokesman of the executive European Juncker explained why it would not participate in the meeting between Merkel, Hollande and Tsipras on the sidelines of the EU summit with Latin America and Central.
seemed a demonstration of how the government of Athens was now at loggerheads with the European Commission. Then in the afternoon came an opening by Germany against the Greek Government. And also the location of Brussels to Athens changed. “The European Commission President Jean-Claude Juncker met with Prime Minister greek Alexis Tsipras on the sidelines of the EU summit / Latin America,” declared the spokesman of fact later Juncker Margaritis Schinas. According Schinas it was a meeting “friendly”, during which it was decided to “continue to work together” with the aim of achieving “a deal agreed with the 19 eurozone countries.”
And in this climate Wednesdays, in the evening, started the mini-summit between Tsipras, Merkel and Hollande.
The downgrade
But, meanwhile, always in the evening, the agency Standard & amp; Poor’s cut Greece’s rating to “ CCC’ from CCC + ‘. The liquidity position of Greece continues to deteriorate and Athens’ seems to give priority to other expenditure in relation to the obligations on the debt, “wrote S & amp; P. “From our point of view without a reversal of nominal GDP and a thorough reform of the public sector, Greece’s debt is unsustainable,” he says again, pointing out that the withdrawal of deposits from Greek banks increases the possibility that the government imposes controls capital. “The uncertainty in relations between Greece and its creditors and political stability are weighing on the economy,” it highlights S & amp; P, indicating that even if an agreement with creditors was reached, it is likely that will not cover the obligations of Greece debt beyond September. The outlook is negative, finally, “given the risk of a further deterioration of liquidity.”
Merkel
To unlock the stiffening of Brussels, on Wednesday, was the renewed willingness of Germany. German Chancellor Angela Merkel would be ready in fact to an agreement with Greece if the government of Alexis Tsipras called for efforts to carry out at least one of the major economic reforms requested by creditors. This was reported Bloomberg, citing sources close to the German government’s position.
Summit
It is not clear at this point if the planned summit between Alexis Tsipras, the German Chancellor Angela Merkel, and French President Francois Hollande will jump or be held in an official or unofficial (as leaked Eliseo). The three European leaders should meet tonight on the sidelines of the summit between EU leaders and the Community of Latin American and Caribbean States (CELAC). A meeting that remained in doubt throughout the day. However
Merkel then officially declared: “On the sidelines of the EU summit-Celac there will be possibly a meeting with Prime Minister Tsipras and President Hollande. We have not decided yet exactly when, but if the greek prime minister wants to talk to us we will do it naturally. ” The Chancellor warned that “every day counts” to reach an agreement.
Bags
The new difficulties arisen in the negotiations they have obviously influenced the performance of the markets. So while European stocks turned onto the road of Athens rises reversed course. At the end of the main European stock markets all closed higher, despite fears for the impasse in the negotiations on Greece. In the final lists s’impennano further up, after the decision of the ECB to raise the roof of the emergency liquidity for Greek banks (Ela) of 2.3 billion euro, at an altitude of 83 billion euro. London grew 1.13% to 6830.27 points. In Milan the FTSE MIB advancing 2.5% to 23,091.49 points, Paris gained 1.75% to 4,934.91 points, Frankfurt 2.4% to 1,265.39 points and Madrid halls 1.56 %. Athens is instead bucking, yielding 1.08%.
June 10, 2015 | 12:23
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