0:45. The details of the action plan of Alexis Tsipras
The Greek action plan sent Thursday evening to Jeroen Dijsselbloem, Eurogroup President, includes the following:
– An increase in VAT from 23% for food and 13% for hotels;
– the removal of VAT exemptions on the islands by the end of 2016.
– an increase in corporate tax and shipowners;
– the elimination of supplementary pension by the end of 2019;
– the higher taxes on luxury goods and advertising on TV;
– the revival of privatization;
– cutting spending on defense than 300 million euros by the end of 2016;
– and reducing early retirement
Greece says also seek funding for a total of 53.5 billion. euros by the end of June 2018 to meet its obligations related to its loans.
10:20 p.m.. Athens submitted new proposals
Jeroen Dijsselbloem, Eurogroup President, has received new proposals from the Greek government announced Thursday his spokesman. “New Greek proposals were received by President Dijsselbloem. It is important for institutions to take into account in their assessment ‘ he wrote on Twitter.
Jeroen Dijsselbloem will not comment on these new proposals until they have not assessed, added the spokesman.
They will be examined by the European Commission and the European Central Bank. The International Monetary Fund (IMF) is also involved in the process.
The evaluation must be completed before the Eurogroup meeting scheduled Saturday at 15:00 (French time) in Brussels, which will recommend or not opening of new negotiations with Athens. The decision will be made Sunday afternoon at an extraordinary EU summit.
21:30. Greece asked the green light from Parliament in the negotiations
The Greek government will seek parliamentary approval Friday to negotiate on a text listing of “priority actions” and could provide the basis for an agreement with international creditors of the country, said a government source.
While the country is threatened with bankruptcy, creditors demanding that the government give pledges by legislating a set of priority reforms.
The vote will be on Friday that allowing the government to use the text as a basis for negotiations, the source said. “priority actions” will then be subject to a final vote at a later stage. “This is to show that the government has the political will to implement the promised reforms but do not move unilaterally before the Eurogroup meeting” , the source said.
8:20 p.m.. Proposals sent to Brussels?
While the Greeks are on the streets and are impatient, it seems according to several journalists that the proposals have been sent to Brussels. They could be submitted to Parliament in the coming hours.
20:30. The Greeks appear and wait patiently before Parliament in Athens
20h. Copying ready?
According to the correspondent of Libération , Greek ministers are prepared to make their copy
17.30. A discount is possible … but this is excluded
After Angela Merkel is its Minister of Finance, Wolfgang Schäuble which recognized for the first time that the erasure of part of the debt of Greece may be needed to make it bearable, but immediately ruled out that possibility.
Exhibitor paradoxical position that could further complicate discussions current, Wolfgang Schäuble said that European rules prevented erase some claims on Greece, whatever the theoretical impact of such a measure.
These remarks suggest that the German minister believes now impossible to solve the problem of Greek public finances as part of EU rules.
14.30. A discount “classic” of the Greek debt is out of question, said Merkel
German Chancellor Angela Merkel reaffirmed on Thursday in Sarajevo a discount “classic” on Greek debt vis-à-vis its European creditors was out of question.
“In 2012, we addressed the issue of debt sustainability. We lengthened the maturities, we have pushed the scheduled repayments of loans from the EFSF (EU rescue fund) until 2020. We therefore do not address the issue of debt sustainability for the first time “ has she said in response to a question about the differences between Berlin and the International Monetary Fund (IMF) on the question of a discount ( “haircut” ) Debt Greece.
24:45. Jean-Claude Juncker will meet the Greek opposition
According to the newspaper Les Echos, the President of the European Commission Jean-Claude Juncker will meet delegations from the Greek opposition
.
Jean-Claude Juncker will receive a delegation of the New Democracy conservative party on Thursday early afternoon and head of the centrist party To Potami Stavros Theodorakis Friday mid-morning, said Margaritis Schinas, spokesman of the Commission.
11:30. Holland cancels a trip to Avignon to dedicate to Greece
Francois Hollande canceled a trip to Avignon where he was to inaugurate on Friday reopening of the Lambert collection of art in order to devote his agenda in monitoring the Greek crisis, said Thursday the services of the Presidency. “The president wants to stay in Paris follow discussions and developments in the Greek case” a explained his entourage.
10am. The ECB ready to unconventional measures if Grexit
The European Central Bank (ECB) is ready to take monetary measures not conventional if Greece leave the euro, said Ardo Hansson, one of the Council members Governors.
“We are increasingly forced to take this possibility into account because the probability of such an event was unfortunately developed over time “, said the governor Estonian central bank, in an interview published Thursday with the local daily Postimees.
Ardo Hansson adds that a “Grexit” is undesirable , but it would be a mistake to try to avoid it at all costs, believing that we should not sign a blank check to the Greece as it would undermine the foundations of the currency unique.
9:50. Greece is planning reforms to recover 12 billion euros
Greece is planning a reform package of 12 billion euros over two years, more than was previously expected to counter the effects of a return to recession, writes the Greek daily Kathimerini.
Instead of a 0.5% growth this year, months of uncertainty and nearly two weeks of capital controls are “we now talk of a recession of around 3%” .
“It is estimated that measures eight billion euros that Greece presented for 2015 and 2016 will be increased by two billion euros per year, bringing the total to 12 billion euros for those two years ” , we read in the newspaper.
Greece emerged last year of a recession which reduced GDP a quarter in the space of six years.
The government of Prime Minister Alexis Tsipras to on Friday to present to other countries members of the euro area a set of reforms in exchange for financial assistance. If the package is deemed satisfactory, it will be endorsed on Sunday by the euro area. Otherwise, Greece is threatened with an exit from the euro zone.
According to another newspaper, Naftemporiki, the government plans to bring the tax rate on corporations from 26% to 28%. It also provides a heavier VAT for wear 10% to 13% on luxury products, from 13% to 23% off processed food products, catering, transport and some health services from the private sector, and 6.5% to 13% in hotels.
According to this newspaper, the Greek islands continue to benefit from tax exemptions creditors require abolition. This newspaper believes that all these measures provide notice of 10 to 12 billion euros.
8:20. Draghi “do not know” if Greece can be saved
Mario Draghi “does sai (t) not” if Greece can be saved from Bankruptcy and President of the European Central Bank (ECB) does not believe that Russia can come to the aid of Athens in case of failure of its negotiations with its European partners.
Asked if he believed in a resolution of the crisis Greek Mario Draghi said the Italian newspaper Il Sole 24 Ore: “I do not know no, this time it’s really difficult. “
then asked about a possible Russian help to the Greece, ECB President added: “I do not believe, I do not see it as a real risk (…) and anyway, they have them- same no money. ”
7:30. The banks supplied with tickets to Monday
Greek banks sufficient liquidity to fuel their distributors tickets until Monday, said Thursday Louka Katseli, the President of the Greek banking federation.
“We know everything is available until Monday “, has said he to the channel Skai TV.
The Greek authorities extended until July 13 the closure of local banks and capped withdrawals distributors to 60 euros a day. The closure of the network Bank was issued on June 29, following the failure of negotiations between Greece and its international creditors.
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