Sunday, June 21, 2015

ECB to hold special meeting over emergency Greek funding

The European Central Bank's governing council will hold a special meeting tomorrow to examine whether to raise the level of emergency funding for Greek banks, after Greece's banking system has come under intense pressure with clients withdrawing billions in savings.
The meeting is being held at the request of the Bank of Greece, said a source who declined to give further details.

The ECB already raised the level of funding for Greek banks on Friday for the second time in a week, although the amount is not known.
Greek PM Alexis Tsipras will meet European Commission chief Jean-Claude Juncker tomorrow morning, ahead of an emergency eurozone summit on Greece's debt crisis.

The two leaders have had several telephone conversations over the weekend, as Athens scramble to reach a deal with the EU to prevent it from defaulting on its debt and possibly crashing out of the eurozone.

Earlier, Mr Tsipras presented new proposals on a "mutually beneficial deal" to end his country's debt crisis in a telephone call with European leaders today, his office said.

The proposals were outlined by Mr Tsipras to German Chancellor Angela Merkel, French President Francois Hollande and European Commission President Jean-Claude Juncker, on the eve of the crucial eurozone summit.

They were aimed at reaching a "definitive solution" to the standoff between Athens and its creditors, the Greek statement said.
  • The statement did not give details of the proposals.

In a sign that the two sides were preparing for drawn-out negotiations tomorrow, a meeting of the eurozone's 19 finance ministers to take place before tomorrow’s summit was brought forward by two and a half hours.

Mr Tsipras is to arrive in Brussels this evening, a full day ahead of the summit that could decide Greece's future in the single currency zone.

Today, Mr Tsipras chaired a cabinet meeting in Athens to inform his team about possible shifts in Greece's stance on the reforms demanded of it by the EU and IMF.

The two sides have appeared far apart so far, with Athens demanding its crippling debt burden be eased and its creditors insisting on further reforms and spending cuts.

Yesterday, Greek Minister of State Alekos Flambouraris said Athens was preparing to present measures "that bridge the gap".

1 comment:

  1. La BCE relève à nouveau l’aide d’urgence aux banques...

    En ouverture d’une journée critique pour l’avenir de la Grèce, la Banque centrale européenne a relevé le niveau de son aide d’urgence aux banques grecques afin de maintenir le système bancaire à flot.

    Ultime réunion ? Le sort de la Grèce se joue à quitte ou double ce lundi à Bruxelles qui renoue ainsi avec ces grandes sessions de négociations et de tension indispensables pour prendre les décisions difficiles...............


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