Greece asked a third aid package – Le Point

Greece, now in default on its vis-à-vis the IMF debt since Tuesday midnight, has reserved a new turn of events by suddenly asking a new financial aid plan for the euro zone, which will consider this request . Greece on Tuesday asked the Eurogroup to be able to conclude with the European Stability Mechanism (ESM), the eurozone support fund, a two-year agreement to cover its financial needs, or about 30 billion euros , while restructuring its debt, said the office of Prime Minister Alexis Tsipras.

The idea of ​​a third aid package via the ESM will be investigated “through normal procedures” said Alexander Stubb, the Finnish Minister of Finance, on Twitter, after a teleconference of the Eurogroup in the early evening. The ministers will resume their discussions Wednesday in the day.

… request for ESM program is always Dealt with through normal procedures

-. Alexander Stubb (alexstubb) June 30, 2015

A poll that shook Europe

Earlier Tuesday, Chancellor Angela Merkel had closed the door on any discussion of the subject by stating that Germany was not ready to discuss a new Athens request help before Sunday, the day of the referendum. His Minister of Economy and Social Democrat Vice Chancellor Sigmar Gabriel himself had conditioned further discussions with the cancellation of the poll, which shook Europe.

But things could be in the process of moving to Athens: Greece had offered to suspend its referendum on the latest proposals by the country’s creditors (IMF, EU, ECB) if negotiations resume with the European Union, said Tuesday the Maltese Prime Minister Joseph Muscat In comments reported by the local press. In a statement to Parliament, Joseph Muscat said not knowing if it was an opening or a delaying tactic by the Greek government of the radical left. “The conditions of the referendum issue no longer exist,” said on Tuesday a European source close to the negotiations after the request of Tsipras government of a new aid plan over two years.

” important events, the ones you’re not prepared, are happening in Athens, and that will likely produce results that do not match the items you have written today, “launched, mysterious, the President of the European Commission, Jean-Claude Juncker, told reporters in Brussels.

“The old program ends tonight”

Meanwhile, at least 20 000 people demonstrating in Athens for the yes vote. The government of Alexis Tsipras asked the Greeks to sanction a “non powerful” the latest proposals of creditors. The demonstrators, most hostile to the government of the radical left Syriza party, met in calling a initiative called “We remain in Europe,” also expressing fear of a Greek exit from the euro zone in case of definitive failure of the government to agree with its creditors. Monday, more than 13,000 fans of Syriza had expressed the same place to support the referendum itself.

Whatever happens, the current aid package for Greece has expired at midnight Tuesday and could be extended, as requested by Athens to hold until Sunday referendum. “The deadline for the extension of the program was this weekend. Because of parliamentary procedures, it is impossible to extend beyond today,” said Slovak Finance Minister Peter Kazimir, on his Twitter account.

As a result, “the old program ends tonight,” solemnly declared the head of the Eurogroup Jeroen Dijsselbloem, on CNN. With it, Greece will lose access to some 16 billion euros in aid of all kinds (loans, profits on bonds held by the ECB funds for aid).

Payment default on its IMF debt

At midnight too, the country was in default on its debt to the IMF. The Greek Finance Minister Yanis Varoufakis confirmed Tuesday morning that Greece will repay with a maturity of 1.5 billion euros, the creditors and the markets already knew for days. The rating agency Standard & amp; Poor’s (S & amp; P) had recently recalled that non-payment of a State with its public creditors such as the IMF, was not strictly speaking a default. Nevertheless, this is an exceptional event and a first for the European Union.

On Wednesday, 25 members of the Governing Council of the European Central Bank should meet to discuss the situation of the Greek banking system . It should in particular be a question of maintaining or not a line of emergency loans for Hellenic institutions weakened by massive withdrawals of Greeks worried about their future and that of their country. Technically, the institution could decide to cut off the financial tap to Greece, but it seems unlikely.