After a week of bitter bids and get in & lsquo; & rsquo ;, default seems that the Prime Minister of Greece, Alexis Tsipras, and creditors of the Eurogroup and the IMF have something clear: there will be no & aacute; m & aacute; s negotiation & oacute; n until the outcome of the Refer & eacute known; the bankruptcy of the economy RIVER; HEL & eacute; convened on Sunday, in which the Greeks must respond whether they accept the rescue plan to avoid RIVER Ndum unique .
The leftist prime minister yesterday made two moves, analysts considered contradictory: first envi & oacute; a letter to his European creditors, in which it accepted some conditions imposed in exchange for a pr & eacute; loan of 30,000 million euros in the permanent bailout fund eurozone to meet their funding needs & oacute; n 2017. This form & iacute; to a third aid plan, after I received & oacute; . Greece in 2010 and 2012
But, almost immediately, I issued Tsipras & oacute; a speech calling on his compatriots to vote for the & lsquo; no & rsquo; at the same bailout agreement, refer to the & eacute; Ndum called by his government for Sunday
& ldquo;. A & lsquo; no & rsquo; It is a strong pressure & oacute; n to an agreement economic & oacute; cally feasible to give & aacute; solution & oacute; n debt & rdquo; p STILL Republic, asked the Greek government to restructure, insisted & oacute; . a challenging Tsipras
Meanwhile, in Brussels, the finance ministers of the Eurogroup agreed to suspend any di & aacute;. logo with Athens until the outcome of the Greek inquiry is known
& ldquo; The main decision & oacute; n it has been that, given the situation & oacute; n pol RIVER policy, rejecting earlier proposals and refer & eacute; & aacute Ndum to be held; Sunday, as & iacute; as the council vote & lsquo; no & rsquo; by the Greek government, we see no basis for maintaining m & aacute; s discussions at this time & rdquo ;, AFIRM & oacute; . the Eurogroup chairman Jeroen Dijsselbloem
In the second extraordinary meeting that took place within 24 hours, the ministers studied the two letters sent Tsipras, as & iacute; as & ldquo; the current situation & oacute; n pol RIVER policy in Greece & rdquo ;, said Dijsselbloem, when referring to the option & oacute; n was & ldquo; wait & rdquo;.
In Athens, Finance Minister Yanis Varoufakis, reaffirmed & oacute ; the Greek government is & aacute; willing to accept & ldquo; & rdquo ;, tough measures with the aim of reaching agreement with partners including the restructuring & oacute; n debt. & Ldquo; We are willing to take even harsher measures with the condition & oacute; n that there is a restructuring & oacute; n of debt and an investment program Varoufakis & rdquo ;, said. The Minister recalc & oacute; that the objective of the Executive is & ldquo; to agree from Monday & rdquo ;, when expres & oacute; confidence that will resume & aacute; n negotiations, following the outcome of the Refer & eacute; Ndum summoned to the pr & oacute;. maximum Sunday
The European Central Bank (ECB) ACORD & oacute; maintain emergency liquidity m & aacute; Xima to be ordered Greek banks to trav & eacute; s Bank of Greece at 89,000 million euros. The governing council of the ECB, which is & aacute; composed of the governors of the central banks of the 19 pa & iacute; countries of the euro area and the m & aacute; maximum & oacute; executive organ, back & aacute; to discuss on Monday the provisi & oacute; urgent n liquidity for Greek banks, after the outcome of the Refer & eacute;. Greek Ndum
RATING DOWN NOTE TO ATHENS FOR FEAR OF & lsquo; Grexit & rsquo;
Actual rating agencies & oacute; n Standard & amp; Poor’s (S & P) and Moody & rsquo; s yesterday downgraded the rating of Greece because & ldquo; & rdquo risks; linked to refer & eacute; Ndum
S &. P under the rating will & oacute; n the cr & eacute; dito long period of three CO-RIVER Greek as in the sectors of infrastructure, telecommunications and energy & iacute; to due to call the refer & eacute; Ndum scheduled for pr & oacute;. maximum Sunday
& ldquo; The downgrade reflects our vision & oacute; n that the possibility of a & lsquo; Grexit & rsquo ;, the exit of Greece from the eurozone, has increased nearly 50% due to the decision & oacute; n the Greek government to call a refer & eacute; Ndum on the proposal pr & eacute; loan creditors Sunday & rdquo ;, the agency said in a statement. Affected are the builder Ellaktor, the largest group of CONSTRUCTION n; telephony company RIVER OTE; and CO-RIVER to p STILL Republic DEI electricity
IMF:. ACCEPT A PR & oacute; RROGA NOT SOLVE & aacute; THE CRISIS
The Greeks could & aacute; n receive & ldquo; new financing & oacute; n & rdquo; Fund until they have fulfilled their arrears
The International Monetary Fund (IMF) defended & oacute.; yesterday its position & oacute; n not to accept the pr & oacute; rroga payments of Greece, since the delay & ldquo; not help with problems economic & oacute; fundamental monkeys or immediate funding needs & oacute; n & rdquo;.
The agency record & oacute; that & ldquo; do m & aacute; s 30 to CHILDREN, he offered the IMF & oacute; delays a few pa & iacute; low-income countries following their request, but in each case this pr & oacute; rroga & oacute was demonstrated; that had not RIVER helped to the funding needs & oacute; n immediate or economic problems & oacute; key & rdquo ;. monkeys The pa & iacute; countries that had RIVER an received these pr & oacute; rrogas were Guyana and Nicaragua in 1982
The default of 1,600 million euros, which I incurred & oacute.; Greece has the highest volume of the history of the IMF in its m & aacute; s 70 to CHILDREN history. The institution & oacute; n directed by Christine Lagarde put in his p & aacute; web page a list of questions and answers about the situation & oacute; n of Greece regarding the Fund after being found & ldquo; in default & rdquo;.
The Fund, that Negoci & oacute; bailout program for Athens, together with the European Central Bank (ECB) and the Commission & oacute; n European acknowledges that & ldquo, a pa & iacute; s member can request a pr & oacute; rroga & rdquo; payment, but & ldquo; as cuesti & oacute; n pol RIVER lasting policy does not extend maturities & rdquo ;. Reiter & oacute ;, in addition & aacute; s that & ldquo; there is no grace period & rdquo; and, & ldquo; when a pa & iacute; s fails to pay its IMF obligations in due time, est & aacute; delinquent & rdquo ;. Result & ldquo; immediately & rdquo; Greece will not be able & aacute; receive & ldquo; new financing & oacute; n & rdquo; by the Fund until it has completed & ldquo; with their arrears & rdquo ;. The Fund insists the solution & oacute; n passes through a focus & ldquo; balanced & rdquo; including & ldquo; & rdquo measures; by Greece for & ldquo; & rdquo reform; its economy & iacute; a, and in which & ldquo; European partners provide financing & oacute; additional n and debt relief & rdquo;
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After a week of bitter bids and stay in ‘default’, it seems that the Prime Minister of Greece, Alexis Tsipras, and creditors of the Eurogroup and the IMF have something clear: there will be no negotiation until we know the result convened on Sunday, in which the Greeks must respond whether they accept the bailout to avoid bankruptcy of the Greek economy referendum.
The leftist prime minister made yesterday two moves, analysts considered contradictory: first sent a letter to his European creditors, in which it accepted some conditions imposed in exchange for a loan of 30,000 million euros in the permanent bailout fund eurozone to cover its financing needs up 2017. This would constitute a third aid plan, after which he received in 2010 and Greece in 2012.
But, almost immediately, Tsipras gave a speech calling on his compatriots to vote for the ‘no’ at the same bailout agreement in the referendum called by the government on Sunday.
“A ‘no’ is a strong pressure for an economically viable agreement, which will solution to debt “public, asked the Greek government to restructure, Tsipras insisted defiant.
While in Brussels, the Eurogroup finance ministers agreed to suspend any dialogue with Athens until the result of the Greek inquiry is known.
“The main decision was that, given the political situation, rejecting earlier proposals and the referendum to be held on Sunday, and the council to vote ‘no’ by the Greek government, we see no basis to continue further discussions at this time, “said Eurogroup chairman Jeroen Dijsselbloem.
In the second conference extraordinary that held within 24 hours, the ministers studied the two letters sent Tsipras and “the current political situation in Greece,” Dijsselbloem said, referring that the choice was “wait”.
In Athens, Finance Minister Yanis Varoufakis, reaffirmed that the Greek government is willing to take” tough measures “with the aim of reaching agreement with partners including the debt restructuring. “We are even willing to accept tough measures on the condition that there is a debt restructuring and investment program” Varoufakis said. The Minister stressed that the aim of the Executive is “to reach an agreement as of Monday” when he expressed confidence that negotiations will resume, following the outcome of the summoned for Sunday referendum.
The European Central Bank (ECB) decided to maintain the maximum emergency liquidity may ask the Greek banks through the Bank of Greece at 89,000 million euros. The governing council of the ECB, which is composed of the governors of the central banks of the 19 countries in the euro area and its highest executive body, will discuss on Monday the urgent provision of liquidity to Greek banks, after news Greek referendum outcome.
RATING DOWN NOTE TO ATHENS FOR FEAR OF ‘Grexit’
The rating agencies Standard & amp; Poor’s (S & P) and Moody’s downgraded yesterday the note of Greece because of “risks” associated with the referendum
S &. P lowered the ratings of long-term credit of three Greek companies in the sectors of infrastructure, telecommunications and energy due to the calling of the referendum scheduled for next Sunday.
“The downgrade reflects our view that the possibility of a ‘Grexit’, the Greek exit from the euro zone has increased by about 50% due to the decision of the Greek government to call a referendum on the proposed loan creditors on Sunday, “the agency said in a statement. Affected are the builder Ellaktor, the largest construction group; OTE telephone company; and public electricity company DEI
IMF:. accept an extension will not solve the Crisis
The Greeks can not receive “new funding” the Fund until they have fulfilled their arrears.
The International Monetary Fund (IMF) yesterday defended its position of not accepting the extension on payments Greece, as the delay “does not help with the fundamental economic problems or immediate financing needs.”
The agency noted that “more than 30 years, the IMF offered delays few low- income after application, but in each case it was demonstrated that this extension had not helped with immediate funding needs or fundamental economic problems. ” The countries that had received these extensions were Guyana and Nicaragua in 1982.
The non-payment of 1,600 million euros, incurred in Greece, is the largest volume in the history of IMF in its 70 year history. The institution directed by Christine Lagarde put on its website a list of questions and answers about the situation in Greece regarding the Fund after being declared “in default”.
The Fund, which negotiated bailout program for Athens, together with the European Central Bank (ECB) and the European Commission, acknowledges that “a Member State may request an extension” of payment, but “as a matter of policy does not extend long-term maturities “. He also reiterated that “there is no grace period” and that “when a country fails to pay its IMF obligations in due time, it is in arrears.” As “immediate” results Greece may not receive “new funding” by the Fund until it has fulfilled “with its arrears”. The Fund emphasizes that the solution lies in a “balanced” approach that includes “measures” by Greece to “reform” its economy, and in which “the European partners provide additional funding and debt relief.”
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