Wednesday, June 17, 2015

Greek central bank warns of ‘Grexit’ if loan talks collapse

The Greek central bank warned on Wednesday that the country would be put on a "painful course" towards default and exiting the eurozone if the government and its international creditors failed to reach an agreement on an aid-for-reforms deal.

All eyes are on a meeting of the 19 eurozone countries that will take place Thursday in Luxembourg.

Deepening the tensions, Greek Prime Minister Alexis Tsipras said Wednesday an EU "fixation" on pension cuts would scupper any hopes of a default-saving agreement.

"There is no room for further cuts without affecting the core of the [pension] system," Tsipras said after meeting with visiting Austrian Chancellor Werner Feymann, one of the few European leaders supporting Greece in the talks.

The ongoing crisis has prompted an outflow of deposits of about $33.84 billion from Greek lenders between October and April, the central bank said.

Time is fast running out for Athens and its creditors to reach a deal before a 1.6 billion euro repayment by Greece to the International Monetary Fund falls due at the end of the month. But neither side appears willing to give ground, with Tsipras accusing the creditors of trying to "humiliate" his country by demanding more cuts.

Despite the heated rhetoric, the central bank said that the two sides appeared to have reached a compromise on the main conditions attached to an aid agreement, and that little ground remained to be covered for a deal to stick.

"Failure to reach an agreement would  ... mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country's exit from the euro area and, most likely, from the European Union," the Bank of Greece said in a monetary policy report.

"Striking an agreement with our partners is a historical imperative that we cannot afford to ignore."

The Greek central bank urged the EU to spell out promises of debt relief to Greece - a key demand from Athens - in greater detail.

   Source:Agencies - globaltimes.cn
17/6/15
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1 comment:

  1. Les Grecs se tournent vers la monnaie virtuelle...

    De peur de perdre leur épargne, de plus en plus de Grecs placent leur argent dans le Bitcoin, une monnaie virtuelle qui ne dépend d'aucun État.

    L'euro fait-il plus peur aux Grecs qu'une monnaie virtuelle? La plus célèbre de toutes, le Bitcoin, est connue pour sa volatilité. Mais depuis six mois, elle s'est stabilisée dans une tendance haussière. Pendant ce temps, la probabilité que la Grèce sorte de l'euro («Grexit») n'a cessé de grandir. Pour beaucoup d'analystes, ce n'est pas une coïncidence. D'une part, on ne sait pas quelle monnaie remplacerait l'euro: «pourquoi pas le Bitcoin?», se disent certains. Et surtout, les banques grecques pourraient bloquer tous les comptes en euros pour faire face à leurs dettes. Le Bitcoin, qui ne dépend d'aucun État ni d'aucune banque centrale mais seulement de l'offre et de la demande, présente une alternative pour placer son argent. Mardi, le Bitcoin a atteint son plus haut depuis deux mois au-dessus de 252 dollars, un niveau qu'elle a conservé mercredi (consultable sur des plateformes d'échange comme Bitstamp, Coinbase ou Coindesk). Elle enregistre ses plus belles performances depuis janvier 2014.........lefigaro.fr
    17/6/15

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