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 comes 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.
- The euro area has unanimously decided to begin negotiations in order to grant a third aid package for Greece announced on Monday morning the President of the European Council, Donald Tusk.
- A compromise proposal was put on the table Monday morning by the German leaders, French, Greek and European Council President and submitted to the leaders of the eurozone for approval.
- The idea of a “temporary Grexit” advanced this weekend by German Finance Minister Wolfgang Schäuble, is no longer the order of the day said Martin Schulz Monday.
Monday, July 13
14h: The Bundestag is expected to vote Friday
German MPs are expected to vote Friday on the principle of a third international aid plan for Greece, announced the president of the Bundestag, Norbert Lammmert
1:40 p.m.. Fabius welcomed the Franco-German cooperation
The Franco-German cooperation was decisive in reaching a European agreement on Greece, felt the diplomacy of the leaders of the two countries in a joint statement in Vienna. “I wanted to emphasize how the Franco-German relations (…) were instrumental in reaching a compromise and bring together all Europeans,” said the French minister Laurent Fabius on the sidelines of negotiations on the Iranian nuclear issue.
13h: For Mélenchon, Hollande is a “single assessor” Merkel
Jean -Luke Mélenchon, co-founder of the Left Party, said Monday that Hollande was a “mere assessor” German Chancellor Angela Merkel has criticized an agreement ripped Alexis Tsipras “a gun to the head” .
12 am: The Paris Bourse over the 5,000 point
The Paris Bourse sought to stabilize -dessus the 5,000 point Monday at midday (+ 2.09%), boosted by the agreement between the Eurozone and Greece to negotiate a plan for aid to third countries. At 11:49, the CAC 40 index took 102.28 points 5,005.35 points in a trade volume of 1.6 billion euros. Friday, he had already jumped 3.07%
11 am. For Valls, “France played its role to the end”
10:50: Greece saw its rate drop
The 10-year rate of Greece retreated sharply on Monday morning bond market in the eurozone, taking advantage of the announcement of an agreement between the euro area and Greece to negotiate a third aid package. Shortly after 10:30, the 10-year rate in the country flowed against 11.923% 13.583% Friday on the secondary market where the exchange previously issued debt
10:30 am. Francois Hollande greets “a historic decision”
The French president praised in the agreement concluded in Brussels on Monday “a historic decision” that “allows Greece to remain in euro area “stressing at the same time” the courageous choice “of Greek Prime Minister Alexis Tsipras.
” The credibility of Europe would have been achieved had there been no agreement today ‘ hui, “the French president said, after a special summit of the euro area. He argued that the agreement, reached after seventeen hours of marathon negotiations, included “a reprofiling of debt” Athens “in longer maturities maturities and a negotiation of interests.”
10:15 Tsipras defends “the good fight”
The Greek government has “delivered a good fight to the end” which resulted in a “difficult agreement” but guaranteeing “financial stability” and the revival in Greece, said Monday Prime Minister Alexis Tsipras. “The vast majority of the Greek people will support this effort (…) we will continue to fight” for “radical reforms Greece needs,” he added.
10 am: National parliaments should decide this week
The national parliaments which must vote on the draft European aid to Greece will probably do this week , hoped Monday the head of the Eurogroup Jeroen Dijsselbloem . “In the coming days, Tuesday or Wednesday, the Greeks légiferont. The whole plan will be approved, but the first steps” required by creditors, he has told the press. 
9:50: For Merkel “The road will be long and difficult”
German Chancellor Angela Merkel warned Monday that the path would be “long” and “difficult” for Greece, to which its European partners are willing to grant a third aid in exchange for reforms, finds the path of growth
9:40. Juncker welcomes the Grexit has “disappeared”
“The Grexit disappeared,” said the president of the European Commission Jean-Claude Juncker in a brief statement to AFP, welcoming the agreement reached Monday a third plan of aid to Greece, which avoids in extremis a country’s exit from the euro area
9:05: Unanimous agreement is concluded
The euro area has unanimously decided to begin negotiations in order to grant a third of Greece’s aid plan that might otherwise an exit from the monetary union, announced Monday morning the President of the European Council, Donald Tusk.
“The summit of the euro area has reached an agreement by unanimity. Are all ready for an aid program for Greece via the European Stability Mechanism (ESM), with serious reforms and financial support, “he said on his Twitter account.
8:50 The euro zone is “close to an agreement”
The euro zone is “close to an agreement” keep Greece within it, said Monday morning the Luxembourg Prime Minister Xavier Bettel, after endless hours of negotiations into the night in Brussels.
“After seventeen hours of negotiations, we are close agreed. Europe is strong, “he was congratulated on his Twitter account
8:40. A” Grexit “would be a disaster for Valls
A Greek exit from the euro would be a “disaster” for the country and the euro area, pleaded Monday Prime Minister Manuel Valls. Asked about France Inter, Manuel Valls said he “hoped” that the hypothesis of the Greek exit is no longer on the table. “Because it would be a disaster. A first disaster for the Greeks who live an unprecedented economic and social impact, even harder than what they have experienced so far, if Greece out of the euro zone, “he said.
8:10: The idea of a “temporary Grexit” is excluded Schulz
The idea of a “temporary Grexit “Advanced weekend by German Finance Minister Wolfgang Schäuble is no longer on the agenda, said Monday the European Parliament President Martin Schulz, as reported by Reuters.
“This idea of an output for five years is no longer on the table. It is now useless to speak, “said he said.” The eurozone may burst, “said he continued adding that the SPD wanted that Greece remains in the euro area.
8h: For Moscovici , Greece “must go further in reforms”
06h: The euro fell slightly
The euro fell back slightly Monday against the dollar in early trade in Asia where markets popped up pending the outcome of crucial negotiations between the Greece and the leaders of the euro area. Money European dollar hovered around 1.1136 after having fallen earlier to 1.1089 dollars, against 1.1149 dollars on Friday around 23:00
5:15. A compromise proposal is on the table
A draft compromise to keep the Greece in the euro has been put on the table by the German leaders, French, Greek and President of the European Council and submitted to the leaders of the whole euro area for approval, said Monday a source close to the discussions.
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