An extraordinary European summit to be held on Monday 22 June in Brussels to Greece to avoid a default with unpredictable consequences, a few hours after the presentation by Athens new proposals to creditors who see it as a “good basis “. “New Greek proposal received by Mr Juncker, Lagarde and European Central Bank. Good base to make progress at the summit of the eurozone,” said the night of Sunday to Monday Martin Selmayr, the chief of staff of President the Commission, on his Twitter account. In German, he referred to a process that was done “forceps”, while the Greek proposals were expected in the afternoon of Monday by creditors. Finance Minister Michel Sapin has followed this line ensuring that the work around the latest Greek proposals were “quality” and that negotiations to avoid the Greece a default were happening in “good conditions.” The European Commissioner for Economic Affairs Pierre Moscovici warned him that “the fate of the Greece , the euro is played much today.”
No details were given about the content of the proposals made by Athens for the rapid disbursement of 7.2 billion euros, long promised, and that should enable it to avoid the end Monthly payment default
An appointment awaits test Greek Prime Minister Alexis Tsipras before the planned early evening peak. will meet at 11:00 am (0900 GMT) the President of the European Commission, Jean-Claude Juncker, the IMF Managing Director, Christine Lagarde, the ECB president, Mario Draghi, and the head of the Eurogroup Jeroen Dijsselbloem.
Reimbursement 1.5 billion to the IMF
The finance ministers of the eurozone (Eurogroup) and the leaders of the 19 countries that use the euro as a common currency will then meet to avoid this nightmare scenario in the country.
No positive opinion on the Greek proposals at the two sessions of negotiations, the chances are low for the summit of eurozone leaders allow urgent now ending.
No decision on the disbursement of a tranche loans of 7.2 billion euros, Athens short of money may not be able to honor June 30 a refund of 1.5 billion euros to the IMF, a scenario with unforeseeable consequences.
The possibility of a Greek exit from the euro zone, though this unique process has nothing mechanical in the event of default, is now openly discussed.
The accelerated withdrawals of savers in recent days has heightened concerns for the Greek banking system, even if it is supported by emergency funding from the European Central Bank (ECB).
It meets again on Monday morning about it and could, for the third time in less than a week, increase aid to cope with expected new massive withdrawals Monday.
Agreement “win-win”
While nothing had filtered Sunday officially the content of proposals Greek, Italian Prime Minister Matteo Renzi had said that “all conditions” were met “to an agreement” win-win “.
Alexis Tsipras had spoken Sunday by telephone with German Chancellor Angela Merkel, French President Francois Hollande and Jean-Claude Juncker. He was to be in Brussels on Sunday evening.
Budget Minister Dimitris Mardas told the ERT public television that salaries and pensions could be paid in late June, but without committing to the repayment to IMF international (IMF).
The journal Frankfurter Allgemeine Zeitung (FAZ) for its part asserted Sunday that neither the IMF nor the payment to domestic spending could not be assured.
In an article published by the newspaper, the Greek Finance Minister Yanis Varoufakis called Merkel to demonstrate responsibility facing a “decisive choice.” “That would be folly to enter, for two or three billion difference (between Athens and its creditors, ie) in these troubled waters and to take such risks for the Eurozone and Greece,” said Louka Katseli , President of the National Bank of Greece (NBG), the BBC, betting on the victory of the “common sense”.
With or without IMF
The Greek government is ready to adjustments, suggested Saturday the State Minister Alekos Flambouraris, near Alexis Tsipras, evoking the acceleration pre-pension cuts and the decline of one of the corporate tax thresholds.
But Greece will remain intransigent on several points, meant the state minister, Nikos Pappas, one of the negotiating leaders in the Sunday Ethnos newspaper: “Recovery of labor law, no decrease in salaries and pensions, comprehensive strategic plan on the debt problem. “
Athens wants a deal that brings” final solution, “the Prime Minister rather than with partial provisional disbursement of money to pass the course June 30 and extension of the aid package, which would be followed by other laborious negotiations.
In case of extension of the program, the continued assistance of the IMF, alongside the Union European (EU) and the European Central Bank (ECB) is not desirable, said Nikos Pappas, citing “the unilateral target and not at all European” of the institution of Washington.
Demonstrations against austerity and in support for Greece were held in several European cities this weekend. In Athens in the late afternoon, at least 7,000 people, according to police, gathered outside parliament to express their refusal of new austerity measures and support the government.
In Asia, front Series major meetings in Europe on the Greek financial crisis, markets have reacted positively. “The fact that there are new proposals on the table is seen favorably,” said Bloomberg News Shoji Hirakawa, chief strategist at Okasan Securities Co. in Tokyo.
(With AFP)
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