Monday, June 15, 2015

Δηλώσεις της κ. Annika Breidthardt, Εκπροσώπου Τύπου της Ευρωπαϊκής Επιτροπής σχετικά με τη δέσμη μέτρων που περιλαμβάνονται στην πρόταση των θεσμών


Η δέσμη μέτρων που προτείνουν οι θεσμοί είναι ουσιαστική, ισορροπημένη και λογικότατη από οικονομική άποψη. Οι προτάσεις ανταποκρίνονται στις ανάγκες του ελληνικού λαού, της ελληνικής κυβέρνησης αλλά και των 18 κρατών μελών τα οποία επίσης λογοδοτούν στα κοινοβούλια τους.

15/6/2015
Υπάρχουν πέντε κύριοι πυλώνες.
Μια σημαντική και αξιόπιστη δημοσιονομική προσαρμογή: η Ελλάδα θα δεσμευόταν να επιτύχει στόχο πρωτογενούς πλεονάσματος 2 % του ΑΕΠ το 2016 που να ανέλθει σε 3,5 % του ΑΕΠ το 2018.
Σημαντικά μέτρα για τη βελτίωση της φορολογικής διοίκησης (για παράδειγμα μέσω της ίδρυσης μιας ανεξάρτητης φορολογικής και τελωνειακής διοίκησης, καθώς και μέσω της καταπολέμησης της φοροδιαφυγής).

Grexit: Two Sides Of The Drachma

JUN 15, 2015 @ 5:30 PM

Forbes

By Clem Chambers,CONTRIBUTOR

I wrote a few weeks ago that everyone should relax about a Grexit, where Greece leaves the European currency and gets its drachma back. I maintained Greece was small and its impact on Europe as a whole would be, in the medium term, negligible.

However, if Greece was bailed out in the extreme manner the Greek government was demanding, then the other heavily indebted countries like Spain, Portugal and even Italy, would vote in reneging left wing governments to disavow their debt. This would risk destroying the euro and Europe itself as such an economic revolt would be unsustainable.

E.U. Urged to Plan for Greece to Default

By JAMES KANTER, ALISON SMALE and NIKI KITSANTONISJUNE 15, 2015

The New York Times

BRUSSELS — A chorus of voices on Monday called on European Union authorities to plan for Greece to default on its huge pile of debt after bailout talks between Athens and its creditors deteriorated over the weekend.

But while European leaders dialed up the sense of urgency, they did little to offer a way to break the deadlock. They instead put the onus on the government in Athens to prevent Greece from becoming the first to quit the eurozone in what would be a major setback to the nearly seven-decade project to unify the Continent.

EU preparing for 'state of emergency' after Greek talks collapse

Mon Jun 15, 2015 8:19am EDT Related: WORLD, GERMANY, GREECE
ATHENS/BERLIN | BY GEORGE GEORGIOPOULOS AND ANDREAS RINKE

Reuters

Germany's EU commissioner said on Monday it was time to prepare for a "state of emergency" after talks collapsed at the weekend to rescue Greece from default and ejection from the euro.

Prime Minister Alexis Tsipras ignored a litany of pleas from European leaders to act fast and instead blamed creditors for the collapse in aid-for-austerity talks, the biggest setback yet in long-running talks to secure more aid for Greece.

Greece contagion sweeps euro zone bond markets, hits shares

Mon Jun 15, 2015 7:15am EDT Related: GREECE
LONDON | BY NIGEL STEPHENSON

Reuters

Global financial markets suffered their first bout of significant contagion from the Greek crisis this year on Monday after 11th hour talks between the near bankrupt country and its creditors collapsed.

After weeks of minor ebbs and flows on the stop-start negotiations, bond markets across the euro zone signaled alarm that a deal may not be reached by mid-year, when Athens must repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund.

The premium investors demand to hold Spanish, Italian and Portuguese government bonds over low-risk German Bunds hit 2015 highs, with the 10-year yield gap between Spanish and German debt at its widest since August.

Greek talks failure hits shares, buoys low-risk debt

Mon Jun 15, 2015 4:29am EDT Related: GREECE
LONDON | BY NIGEL STEPHENSON

Failure in the latest talks aimed at averting a Greek default hurt shares in Europe and Asia on Monday, drove investors into the safety of low-risk government bonds and weighed on the euro.

As contagion from the collapse of Sunday's talks spread across markets, the premium investors demand to hold Spanish 10-year bonds ES10YT=TWEB over German Bunds DE10YT=TWEB hit its highest since August.

Out of Options and Time, Tsipras Faces Greece’s Moment of Truth

by Ben SillsFlavia Krause-Jackson
June 15, 2015 — 11:30 AM EEST

Bloomberg

Greek Prime Minister Alexis Tsipras has four days to capitulate to demands to keep Greece in the euro -- or prepare for a messy divorce.
The collapse of talks in Brussels on Sunday has made Thursday’s meeting of euro-area finance ministers the next deadline in the saga that opened in 2009. Bills are piling up and the aid spigot, shut for 10 months, is about to be withdrawn.

Greece Enters Fateful Week as Brussels Talks End Fruitlessly

by Jonathan StearnsMarcus Bensasson

Bloomberg

Greece enters what could be a defining week after last-ditch negotiations between representatives of the Greek government and its creditors collapsed on Sunday.
The euro dropped as the European Commission said the talks in Brussels had broken up after just 45 minutes with the divide between what creditors asked of Greece and what its government was prepared to do unbridged. The focus now shifts to a June 18 meeting in Luxembourg of euro-area finance ministers, known collectively as the Eurogroup, that may become a make-or-break session deciding Greece’s ability to avert default and its continued membership in the 19-nation euro area.
“While some progress was made, the talks did not succeed as there remains a significant gap,” the commission said in a text message. “On this basis, further discussion will now have to take place in the Eurogroup.”

Why Everybody’s in the Dark on Greece

Does Alexis Tsipras actually want to keep Greece in the eurozone?

By SIMON NIXON
June 14, 2015 7:41 p.m. ET
7 COMMENTS
Does Alexis Tsipras actually want to keep Greece in the eurozone?

Until recently, the answer seemed clear. The Greek prime minister fought an election promising to keep Greece in the single currency. Every survey of Greek voters showed strong support for euro membership. No one seriously doubts that a euro exit would be catastrophic for the Greek economy in the short term—and most likely in the long term too, given the potential for social and political turmoil. Sure, his Syriza party has been anti-euro as recently as 2012 and some of its leading figures have continued to argue for exit, but the bulk of the party seemed to have reconciled itself to membership.

Sunday, June 14, 2015

Greece and creditors fail in 'last attempt' to reach deal

Sun Jun 14, 2015 4:25pm EDT Related: WORLD, GREECE
BRUSSELS/ATHENS | BY JAN STRUPCZEWSKI AND RENEE MALTEZOU

Reuters

Talks on ending a deadlock between Greece and its international creditors broke up in failure on Sunday, with European leaders venting their frustration as Athens stumbled closer toward a debt default that threatens its future in the euro.

European Union officials blamed the collapse on Athens, saying it had failed to offer anything new to secure the funding it needs to repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund by the end of this month.

'No deal' with Greece as talks in Brussels fail


BBC

A European Commission spokesman said while that progress was made on Sunday, "significant gaps" remained.
Europe wants Greece to make spending cuts worth €2bn (£1.44bn), to secure a deal that will unlock bailout funds.
Greek deputy prime minister Yannis Dragasakis said that Athens was still ready to negotiate with its lenders.
He said Greek government proposals submitted on Sunday had fully covered the fiscal deficit as demanded.

Greece Talks End After 45 Minutes as Focus Shifts to Eurogroup

by Jonathan StearnsMarcus Bensasson
June 14, 2015 — 8:15 PM EEST Updated on June 14, 2015 — 10:02 PM EEST

Bloomberg

Last-ditch negotiations in Brussels between Greece and its creditors collapsed after just 45 minutes on Sunday.
The latest failure to find a formula to unlock as much as 7.2 billion euros ($8.1 billion) in aid for the anti-austerity Greek government of Prime Minister Alexis Tsipras comes amid growing warnings about the risk of Greece’s exit from the 19-nation euro.

Friday, June 12, 2015

Greece, a Financial Zombie State

By THE EDITORIAL BOARDJUNE 12, 2015

The New  York Times

Greece and the other countries in the eurozone are once again at an impasse days ahead of a crucial deadline. If the two sides do not reach an agreement on how to extend a 240 billion euro ($270 billion) loan program beyond June 30, Greece will most likely default on its debts and would probably be forced to abandon the euro.

A Greek Suicide?

JUN 11, 2015 21

By Anatole Kaletsky

Project Syndicate

LONDON – The good news is that a Greek default, which has become more likely after Prime Minister Alexis Tsipras’ provocative rejection of what he described as the “absurd” bailout offer by Greece’s creditors, no longer poses a serious threat to the rest of Europe. The bad news is that Tsipras does not seem to understand this.

Greece Told to Stop Fighting Creditors' Demands as Deadline Nears


by Karl Stagno NavarraCorina Ruhe

June 11, 2015 — 3:02 PM EEST Updated on June 12, 2015 — 11:43 AM EEST

Bloomberg

Greece was told to stop fighting creditors’ demands and sign a deal that will avert a default as officials plan for a worsening of the crisis.

El-Erian sounds alarm over crisis in Greece

Published: June 11, 2015 11:26 a.m. ET

Market Watch

By SARA SJOLIN MARKETS REPORTER

“…unemployment rate in the Hellenic Republic rose to 26.6% in the first quarter of the year, up from 26.1% in October-December…”

Keeping Greece in the Euro May Have Nothing to Do With Finances

by Maria Petrakis
June 12, 2015 — 2:01 AM EEST
 Bloomberg
A bronze statue of Harry S. Truman stands unguarded along a busy Athens road, a reminder of Greece’s post-World War II position as a strategic bulwark for the U.S. and Europe.
If euro-area policy makers overcome their frustration over Greek financial brinkmanship and cough up more aid, it will be in no small part because of that role.
Greece’s geopolitical potential has been used as a promise, but mostly as a threat,” said Eirini Karamouzi, lecturer in contemporary history at Sheffield University and author of a book on Greece’s relationship with Europe during the Cold War. “There’s always been the threat of a catastrophic spillover effect if Greece was left to its own devices or, worse, turn into a failed state in Europe’s backyard.”

Despite IMF walkout, Greece hopes for deal on June 18

Fri Jun 12, 2015 2:53am EDT Related: GREECE
ATHENS

Greece hopes to clinch a deal with its lenders at a meeting of eurozone finance ministers on June 18, the state minister said on Friday, as time runs short for the country to stave off default at the end of the month.

The statement by Alekos Flabouraris came a day after the International Monetary Fund walked away from negotiations in Brussels, citing major differences, and a top EU leader bluntly told Athens to stop "gambling" with its future.

Greece at the Cliff’s Edge

Creditors warn Athens not to expect a better offer.


June 11, 2015 6:52 p.m. ET

The Wall Street Journal

Greece’s talks with creditors entered a new stage Thursday as the International Monetary Fund withdrew from bailout talks. This is the bluntest in a series of increasingly impatient statements from creditors that all make the same point: Athens won’t get a better deal.

I.M.F. Recalls Negotiators as Deadline Looms for Greek Deal

By LIZ ALDERMAN and LANDON THOMAS Jr.JUNE 11, 2015

The New York Times

PARIS — The plotline is familiar by now in Greece’s long-running debt crisis, as bailout talks once again hit a major snag. But at this stage just weeks before the bailout expires, the latest twist could have more serious repercussions.

On Thursday, the International Monetary Fund sent its negotiators on the Greek rescue program back to Washington, in the starkest sign yet that Athens may be forced to default on its debts at the end of the month.