The euro area has unanimously decided to begin negotiations in order to grant a third plan of aid to Greece that risked an exit from the monetary union, announced Monday, July 12 morning President the European Council, Donald Tusk.
The agreement was reached after more than seventeen hours of negotiations, punctuated by asides of German leaders, French and Greek and European Council President. At dawn, a compromise had emerged, subject to the 19 leaders summit, on the list of requirements demanded to Athens to resume dialogue for a bailout of the country.
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- The euro area decided unanimously to open negotiations in order to grant a third aid plan for Greece announced on Monday the President of the European Council, Donald Tusk.
- The parliament will discuss on Tuesday morning the austerity measures imposed by Brussels before an expected vote on Wednesday.
- Greek banks, cash-strapped, will remain closed until Wednesday inclusive.
Tuesday, July 14
8:45 : the German press suggests a “diplomatic disaster”
If Berlin appears to have placed most of its requirements to the Greece , voices abound in Germany to describe this success of “disaster” diplomatic, which could dent the image the country has slowly rebuilt. “The fine line between saving and Punish Greece . Tonight, this line has disappeared,” regretted Mathias Müller von on Twitter Blumencron, the conservative Frankfurter Allgemeine Zeitung. For the Süddeutsche Zeitung, Bavarian newspaper center-left, “Merkel was able to revive the image of an ugly Germany, stingy and dry heart, which was just beginning to fade.”
7:30: Greek parliament will consider proposals demanded by Brussels
The parliamentary groups of the two parties of the coalition government, the radical leftwing Syriza Alexis Tsipras of the Prime Minister and the party sovereigntist Independent Greeks (ANEL), will discuss the draft law on the new austerity measures which Brussels requires validation by the Greek Parliament on Wednesday at the latest
6:30. Yanis Varoufakis was in favor a line “harder”
Former Greek Finance Minister Yanis Varoufakis revealed in an interview published Monday night, have been in favor of a hard line vis-à- the creditors after the forced closure of banks, regretting that he had not been followed by the rest of the government. Yanis Varoufakis had thought of implementing a “triptych” share “aggressive but without reaching the point of no return”: “issuing IOUs” (phonetically “I owe you”, “I owe you” euro IOUs) “or at least announce that we would issue our own Euro cash”; “Apply a haircut on Greek bonds” held by the ECB since 2012, to reduce all debt, “or announce that we were going to do,” and “take control of the Bank Greece “
7:30:. the closure of banks extended until Wednesday
The Greek government decided on Monday to extend again the closure of banks “until Wednesday” understood, said a brief statement from the Ministry of Finance. After a meeting between the Deputy Finance Minister Dimitris Mardas and directors of major Greek banks, and despite the agreement reached in Brussels, the government decided to maintain the capital controls and “closing the banks,” a measure imposed country since June 29, “until July 15″
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