Greece: Bank Closure and control capital Monday – Les Echos

The Greek government will consider on Sunday the establishment of capital controls and the closing of banks countries Monday, said the Finance Minister Yanis Varoufakis the BBC.

In an interview with British radio, he said that Athens will consider both measures in the night from Sunday to Monday, said an official on Twitter BBC.

The Department of Finance also said that the country’s Financial Stability Board would meet at 1300 GMT.

This Council is composed of the Minister of Finance, Deputy Finance Minister Dimitris Mardas, the governor of the central bank Yiannis Stournaras, President of the Association of Greek banks, the chairman of HFSF, the emergency fund for banks and the Chairman of the Capital Market Commission .

Yanis Varoufakis calls for Chancellor Angela Merkel, saying in an interview with German tabloid Bild that “holds the key” to resolve the current crisis.

“EU government leaders must act. And among them (Merkel) holds as a representative of the largest countries the key, I hope she will use it, “said the Greek Minister, adding that his government was” open to new proposals institutions “after the failure of negotiations in Brussels on Saturday.

Referendum July 5

The Greek Parliament approved no surprise in the night from Saturday to Sunday held next July 5 of a referendum for or against the proposed reforms demanded by creditors of Athens in exchange for the release of new cash.

The project submitted by the government to ratification by the 300 members of the Vouli garnered 178 votes against 120, according to the count of the vote live, shortly before 3:00 am (00:00 GMT).

In the discussion that took place previously, Prime Minister Alexis Tsipras was confident of victory “resounding” non who has said he will strengthen his country in negotiations with “institutions” (European Commission, European Central Bank and International Monetary Fund).

“Greece will not capitulate”

“The moment of truth for the creditors, the moment they will realize that Greece will not capitulate, that Greece is not a game that’s over,” he has said in a speech punctuated with references to democracy and national dignity.

“I am certain that the Greek people will show up to the historical circumstances and oppose a ‘no’ resounding to the ultimatum, “added the leader of the anti-austerity Syriza party of the left.

Drawing the consequences of the surprise announcement of the referendum, Finance Ministers European partners of Greece in the euro area have acknowledged Saturday the unilateral termination of negotiations at Athens initiative and refused to extend the current bailout program, which expires on Tuesday, the day that Greece, short of cash, is supposed to reimburse € 1.6 billion to the IMF.

The turning point occurred this weekend, preventing the release of a last tranche of financial assistance, thus paving the way for a Greek default on Tuesday and could trigger an unprecedented output process of a country of the monetary union.

dangerous Initiative

The main Greek opposition parties have raised against the initiative Tsipras they deem dangerous to the future of Greece.

As he had done the day before in his first reaction to the announcement of a referendum, Antonis Samaras, leader of the right New Democracy party and Tsipras predecessor as Prime Minister, reiterated during the debate that this referendum would lead to a Greek exit from the euro zone.

“In this referendum, it is not really on the agreement we will rule is the maintenance of our country in the euro area, “he said.

A Greek exit from the euro area will only be possible if Athens first asks to leave the European Union and other countries that accept it, said Sunday the Austrian finance minister, Johann Georg Schelling.

The finance ministers Eurozone have them, refused to extend the bailout program which expires Tuesday, the day when Greece, short of cash, has to repay 1.6 billion euros to the International Monetary Fund.

” It is clear that, whatever the circumstances, no country can blackmail the European Commission and other countries of the euro zone, “said the minister Die Presse newspaper.

Source Reuters