Monday, July 6, 2015

Hollande, Merkel say ‘door is open for discussion’ on Greece

French President François Hollande and German Chancellor Angela Merkel stressed the urgent need for credible Greek proposals to resolve the current stalemate at a joint press conference a day after Greeks voted to reject EU bailout terms.

The assertive and sometimes abrasive Varoufakis had annoyed many of the eurozone's finance ministers during the prolonged debt negotiations.

"I shall wear the creditors' loathing with pride," he said Monday, adding that he fully supports the government of left-wing Prime Minister Alexis Tsipras.

The "No" vote has fuelled fears that Greece will be cast out of the eurozone, which sent European markets sliding at Monday's open, with Frankfurt's DAX dropping 2.11 percent and the Paris CAC falling 2.06 percent in the first hours of trading.

The Greek government hailed the results of the referendum as a victory, however.

"With the difficult circumstances prevailing today you made a very brave choice," Tsipras said in a televised address to Greeks after the results were announced. "I'm fully aware the mandate you gave me is not one of a rupture with Europe but a mandate to strengthen our negotiating position to seek a viable solution."

"No" voters won the Sunday referendum with 61.31 percent while the "Yes" side garnered just 38.69 percent of the vote. A total of 6.16 million Greeks voted, or some 62.5 percent of eligible voters.

Europe now faces a difficult choice between giving Greece yet another chance to make good on its obligations or ejecting it from the eurozone at the risk of igniting global financial turmoil.

As the world waits to see which side will make the next move – and what, if any, concessions are in the offing – German Chancellor Angela Merkel was on her way to Paris for urgent talks on Monday with French President François Hollande..............http://www.france24.com/en/20150706-live-blog-greece-no-vote-day-after

6/7/15
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5 comments:

  1. EZB hält Griechenland-Notkredite unverändert aufrecht ...

    Die EZB hält auch nach dem "Nein" der Griechen zu den jüngsten Rettungsangeboten der Gläubiger die Notfall-Hilfen an Hellas-Geldhäuser vorerst aufrecht. Der EZB-Rat beließ allerdings die Obergrenze für die sogenannten ELA-Notkredite auf dem Niveau vom 26. Juni, wie die Europäische Zentralbank (EZB) am Montag in Frankfurt mitteilte.

    Insidern zufolge liegt der Rahmen für die Liquiditätshilfen damit weiterhin bei rund 89 Milliarden Euro. Ohne die ELA-Kredite droht den Instituten das Geld auszugehen, da Unternehmen und Privatleute wegen der Unsicherheit, ob das Land im Euro bleiben kann, massiv ihre Konten leergeräumt haben.

    Der EZB-Rat beschloss zudem, den Sicherheitsabschlag auf die Pfänder anzupassen, die die Institute für den Erhalt der Notkredite einsetzen. Einzelheiten dazu teilten die Währungshüter nicht mit. "Die finanzielle Situation der hellenischen Republik hat Auswirkungen auf die griechischen Banken, denn die Pfänder, die sie für ELA einsetzen, bestehen in erheblichem Ausmaß auf staatsgebundenen Titeln", so die EZB. ELA-Hilfen werden gegen Sicherheiten von der Athener Notenbank vergeben - über die Gewährung beschließt aber der EZB-Rat.

    Die EZB teilte zudem mit, die Lage an den Finanzmärkten genau zu beobachten. Der EZB-Rat sei entschlossen, alle Instrumente innerhalb seines Mandats einzusetzen.
    diepresse.com

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    Replies
    1. In another development, the European Central Bank (ECB) said it would maintain emergency cash support for Greek banks, which are running out of funds and on the verge of collapse...

      However, BBC economics editor Robert Peston says banks have been told to lodge more collateral with the Bank of Greece as security against the €89bn (£63bn) of emergency lending.

      This reduces the amount of spare cash that the banks have, he adds, and one of the big four Greek banks is understood to have already almost run out of cash.

      Greece's Economy Minister, Georgios Stathakis, had earlier told the BBC that the ECB had to keep Greek banks alive for seven to 10 days so that negotiations could take place.................http://www.bbc.com/news/world-europe-33413569
      7/7/15

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  2. Merkel y Hollande dicen que "la puerta sigue abierta" para negociar con Grecia...

    "No queda mucho tiempo. Hay urgencia para Grecia y Europa", aseguró Hollande en una declaración con Merkel tras mantener una reunión en el Palacio del Elíseo un día después del triunfo del "no" en el referéndum celebrado en Grecia sobre los ajustes exigidos por Alemania, Francia y sus demás acreedores.

    "La puerta sigue abierta a las discusiones, y por eso los jefes de Estado y de gobierno de la zona euro se reúnen mañana", dijo Merkel, quien, sin embargo, destacó que las condiciones para un nuevo programa "aún no se han reunido", por lo que tendrán que escuchar las propuestas del primer ministro griego, Alexis Tsipras.

    "Es urgente que tengamos propuestas precisas para poder encontrar una salida a la situación", agregó la canciller alemana, citada por la agencia de noticias EFE.

    Según fuentes del Ejecutivo griego, Tsipras informó hoy a Merkel de que en la cumbre europea de mañana presentará "la propuesta" de su gobierno................telam.com.ar

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  3. Greek PM Tsipras hurries to restart talks with European leaders...

    Greek Prime Minister Alexis Tsipras heads Tuesday to Brussels, where he will try to use a bailout referendum victory to obtain a rescue deal with European leaders. Tsipras faces intense pressure from creditors abroad and banks at home who all demand what Greece lacks: money.

    As the Greek leader readied proposals to restart bailout talks, the situation was complicated by the European Central Bank's refusal late Monday to increase assistance for Greek banks desperately needing cash and facing imminent collapse unless a rescue deal is reached.

    A hastily called meeting of eurozone finance ministers is slated for Tuesday afternoon, and a full summit of the leaders of the 19 euro countries was to be held that evening.

    With Greece's future in the European Union and its euro currency at stake, a Monday meeting between German Chancellor Angela Merkel and French President Francois Hollande in Paris set the tone for the Brussels talks.

    "Time is of the essence," Merkel said afterward. "(Greek) proposals have to be on the table this week.".......AP.........ctvnews.ca
    7/7/15

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  4. Hollande and Merkel press Greece for ‘serious’ debt plan...

    France and Germany told Greece on Monday to come up with serious proposals in order to restart financial aid talks, a day after Greeks voted overwhelmingly to reject more austerity.

    French President François Hollande and German Chancellor Angela Merkel, the eurozone’s most powerful leaders, said that Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency.

    "I stress the fact that time is running out and there is urgency – urgency for Greece and urgency for Europe," Hollande said after meeting Merkel in Paris a day after Greek voters rejected bailout proposals by international lenders.

    Raising the pressure on Greek Prime Minister Alexis Tsipras before a eurozone summit on Tuesday, the European Central Bank decided to keep a tight grip on funding to Greek banks.

    By voting decisively against tough bailout conditions, as Tsipras had urged them to do, Greeks have strengthened his negotiating hand. But the crisis remains acute, with the country’s banks already closed for more than a week to avoid a massive outflow of money that could lead to their collapse........http://www.france24.com/en/20150706-live-blog-greece-no-vote-day-after
    7/7/15

    ReplyDelete

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