The Greek crisis
Milan , July 2, 2015 – 09:26
Greece and dafault, we are at the final stages and a tight hit and remarries between leaders European government before the referendum on the proposed bailout of international creditors to save the country from financial meltdown. Meanwhile, the agency Standard & amp; Poor’s warned that Greece’s exit from the euro zone “cost” to Italy 11 billion higher interest rates on debt, but the Renzi premier argues that: “If Greece came out Italy from the euro would not have any specific economic problems. Greece still will not come out from the euro, and on Monday will have to return to the negotiating table, however, will the referendum. ” The premier also confirmed the greek Tsipras, who in an interview with Antena TV says that “We must provide the public with alarmist. We will have an agreement 48 hours after the referendum. This Agreement may be bad agreement that we have proposed, or a better one. The stronger the no, the better the deal, “concluded Tsipras, who did not hide the option to resign if the Yes wins.
Constitutionality of the referendum
The same line of his Minister of Finance: Varoufakis, ready to leave him even in case of victory of the ‘yes’. But, on the other hand, the president of the Eurogroup, the Dutch Jeroen Dijsselbloem , before his Parliament warns Athens: if the Greeks will vote ‘no’ will be “incredibly difficult” to set up a new rescue. A warning, not so veiled, on the possible consequences of the vote on Sunday, which the State Council greek would still evaluating the legality. The tension is sky high, while it is yellow on surveys: now Gpo has denied that he made the discovery published online by the newspaper “Kathimerini” which gave the lead the ‘yes’.
Bags negative
Sitting negative Thursday for European shares on Wednesday after the truce in return the mercy of the uncertainty about the fate of Greece Milan Stock wore the black shirt (-1.43%), ahead of Paris (-0.98%), Frankfurt (-0.73%) and Madrid (-0.60% ) and London (+ 0.33%) closed above parity. Little blur the spread of government bonds of the Eurozone with the German bund, although slightly rising yields on sovereign bonds of most countries. That BTP is around 2.31%, with a spread on the bund area in 147 basis points.
IMF: need action on debt to return to growth
Meanwhile, rumors are coming from the International Monetary Fund on a hypothetical new plan that would save Greece from default. Athens, according to how much the Fund writes in a report, would need new funding to 60 billion euro until 2018 to meet all’insostenibilità of its debt. Greece’s finances have further deteriorated because Athens was too slow in launching economic reforms necessary. The report also points out that last year was expected to fall in the greek debt to 128% of GDP. Now the debt has returned to travel to 150% by 2020.
Obama
It remains the greatest attention on the situation in Greece not only on the part of European leaders, but also from the White House. The US president, Barack Obama, and Prime Minister Matteo Renzi had a telephone conversation in fact right on the Greek situation, in which they “agreed on the importance that all parties work to put Greece on the path of reforms and funding that leading to the growth and sustainability of the debt within the eurozone. ”
Close contact
Renzi and Obama also stressed that “their teams are in close contact and are monitoring economic developments in Greece, as more fully the financial markets,” the statement said. Obama and Renzi “also discussed the importance of continuing close coordination on counterterrorism.” Among the issues at the center of the conversation, it is reported by sources close to the prime minister, even Libya and the international situation, with particular reference to Europe.
And Moody’s rating cut
Meanwhile l ‘ rating agency Moody’s cut the note on the debt of Greece because of “additional risk” of the referendum – scheduled for Sunday – and the effects of which could weigh on private creditors. “The announcement of a referendum – is reported in a statement that the rating agency has spread in the night – it creates an additional risk, more ‘pressing for private creditors.” In fact the experts of Moody’s brought the country’s rating to “Caa3,” a step that would indicate an “imminent default of payments” by the country. “A victory for the” no “- they explain – increase the risk of an exit from the Eurozone and would lead to significant losses for private creditors.” The latter hold about 30 billion of the 280 billion sovereign debt.
July 2, 2015 | 9:26
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