Alexis Tsipras: Next few hours crucial

BY KAI PORTMANN and CHRISTIAN TRETBAR 

The Greek prime minister has to fight against opposition in his government. A haircut, as he calls it , he rejects Angela Merkel.

The events in the Live Ticker

18:30 clock – Geopolitical risks: The former president of the European Central Bank (ECB) Jean-Claude Trichet has warned against geopolitical risks of destabilization of Greece in the financial crisis.

This applies particularly to the Balkans. “Europe has a historic responsibility for the countries to firmly anchor from the former communist bloc,” Trichet told the Frankfurter Allgemeine Zeitung on Friday.

Translation /  Der Tagessiegel

He recalled the “cultural proximity of Greece to Ukraine and Russia” on the Orthodox Christian religion. In addition, the proximity to the Middle East and North Africa aggravates with his wars and refugee flows the situation, Trichet said. 

The “risk of geopolitical contagion” will “underestimated in Europe, not least in Germany.” Trichet, who had led the ECB in 2003 and 2011, warned at an acceptable for the IMF and the EU Athenians reform plan. A withdrawal of Greece from the euro zone would very expensive:

“The creditors would waive almost all of their debt.”

17:10 clock – Alexis Tsipras before the decisive moments: The Greek Prime Minister Alexis Tsipras searched on Thursday for ways to bring an agreement through parliament without risking a breach of the government camp.

Translation /  Der Tagessiegel

As the German Press Agency learned Tsipras wants to free the deputies of his leftist alliance Syriza from party discipline. Left Syriza MPs want to reject any new austerity program. For a majority Tsipras can it count on the votes of the major opposition parties.

“The next few hours are crucial,” Tsipras told a meeting of his cabinet. Until midnight Greece must present a reform package, to have the chance of new aids. On Saturday then advise the euro zone finance ministers, on Sunday, the EU heads of state and government come together.

16:41 clock – The support for Alexis Tsipras is crumbling: The Greek Prime Minister Alexis Tsipras has to possibly seek a new coalition partner.

According to “image”, several MPs from the left Syriza party of Tsipras have spoken out against a new austerity program. Similarly, it is the far-right coalition partners of Anel Party. Fittingly, the EU Commission, Jean-Claude Juncker meets with opposition leaders. “

This is an important moment. And President Juncker wants to listen, “said Juncker spokesman in Brussels. The Luxembourg wanted to meet on Thursday with a delegation of the conservative New Democracy. On Friday a meeting with the head of the pro-European party To Potami, Stavros Theodorakis was planned.

Finance Minister Wolfgang Schaeuble does not expect quick assistance. – PHOTO: REUTERS

16:07 clock – Greece with refugees overwhelmed: The threat of financial bankruptcy Greece is also overwhelmed by rising numbers of refugees.

The reception conditions for refugees are there “very precarious”, said the Commissioner for Refugees of the United Nations, António Guterres, on Thursday on the outskirts of the EU interior ministers meeting in Luxembourg. “

And the conditions for integration in the Greek society are also extremely precarious.” Since the beginning of 78 000 migrants already had come to Greece. Many traveled from there to other countries continues.

“Therefore, we are seeing more and more a movement from there to Macedonia, Bulgaria, Serbia, Hungary and then continues to the north,” Guterres said.

The United Nations cooperated with the Greek government in the construction of the asylum system. The support in the refugee issue should, however, “are the responsibility of the European Union,” Guterres said.

15:57 clock – Guy Verhofstadt is the Youtube hit: The fiery speech of the Belgian Liberal Guy Verhofstadt at the European Parliament on Wednesday of yesterday towards the present Greek Government Alexis Tsipras was today again to be a hit on Facebook and Youtube.

Several hundreds of thousands of views on Youtube and Facebook. Guy Verhofstadt [harsh words to Alexis Tsipras].

Guy Verhofstadt to Tsipras  in his emotional and gestural statement, finally tackle to reforms. “Be a true leader and not a false prophet,” he called to Tsipras.

Tsipras, in turn replied Verhofstadt. His government had been there that have “justice” made and have stopped the movement of capital and tax evasion.

15:48 clock – German Finance Minister Wolfgang Schaeuble expects his own words, not the fact that Greece as a “confidence-building measures” to Sunday pushes reforms. He had the new Greek Finance Minister Euclid Tsakalotos said: “Power but one way or another measure.

Is it in your Parliament and: Just do it. This would create a tremendous amount of confidence, “the CDU politician said at a Bundesbank conference in Frankfurt on Thursday. “. But I have not heard that since Tuesday any action in Greece was put into effect” Schäuble emphasized:

“My imagination, how to get confidence-building measures between now and Sunday 24.00 clock, is very limited.” It also knows no one, when the capital controls could be lifted. But it could not go on indefinitely so.

15:09 clock – Despite the Greek crisis is the economic recovery in the euro zone by the International Monetary Fund (IMF) to view further. 2015 amounts to growth in the countries with the common currency by 1.5 percent, 1.7 percent next year, the IMF said in its updated World Economic Outlook.

After an increase of only 0.8 percent last year, the recovery is thus more “on track”. In Greece, however, the crisis could “much worse impact” than previously thought, according to the report published on Thursday.

Protest lettering in Athens. – PHOTO: DPA

So far, the development in the bankrupt threatened euro country have not yet resulted in “significant contagions”, it said. At the same time, the IMF called for “timely political action” to prevent this.

Specifically, the IMF also points to possible consequences of the recent price declines in China. Global growth is expected 3.3 percent this yearamount to 3.8 percent next year. For Germany, the IMF expects 1.6 percent growth this year. 2015 should therefore be 1.7 percent.

14:17 clock – in the Greek debt crisis receives EU Commission chief Jean-Claude Juncker politicians Greek opposition parties.

“This is an important moment. And President Juncker wants to listen, “said Juncker spokesman in Brussels. The Luxembourg politician wanted to meet on Thursday with a delegation of the conservative New Democracy.

On Friday a meeting with the head of the pro-European party To Potami, Stavros Theodorakis was planned.

14:15 clock – German Chancellor Angela Merkel rejected a debt restructuring for Greece. “A classic haircut is not an option,” she said in Sarajevo. She’s cautious comments on the efforts of the Greek government to avert state bankruptcy of their country.

Among the works of the government of Prime Minister Alexis Tsipras on a reform list Merkel said: “I am currently unable to say the situation, which means that – if the program is sufficient and what it grows for debt sustainability.”

The prospects for a solution at the EU summit in Brussels on Sunday, she said: “I find it completely impossible to speculate.” But it will be “decisive, important meeting” a.

13:29 clock – A special meeting of euro zone finance ministers to Greece is scheduled according to two representatives from the Euro-zone for Saturday at 15.00 clock (CET). Advise Already at 10.00 clock to prepare for the Euro Working Group says one insider.

13:12 clock – Ministry of Economy offers companies assistance: The Federal Ministry of Economics sets up an information service for companies on current issues around Greece. Affected companies can get by phone, e-mail and Internet advice. 

13:08 clock – before special EU summit on Greece will meet on Sunday from 16.00 clock (CET) , the leaders of the euro zone in Brussels . The actual summit of the European Union should begin at 18.00 clock, the EU Council shares via the short message service Twitter.

12:43 clock – the Greek austerity package looks for information the Athenian financial press significant additional burden on tourism before. So should the VAT in hospitality rise from 6.5 to 13 per cent and in the catering sector from 13 to 23 percent, the sheet “Naftemboriki” reported on Thursday.

The reform package has a value of ten to twelve billion euros . The controversial property tax should remain so in 2015 and 2016, writes “Naftemboriki”. Alone, they should wash 2.65 billion euros in the state coffers annually.

Athens is also ready to abolish almost all early retirement . Basically, no one should be able to retire before the age of 67. Who’ve worked 40 years old, from 62 years should have the right to retire.

12:29 clock – Donald Tusk, President of the Council of Europe, is hoping to get today presented concrete, realistic reform proposals by the Greek Government. He wrote on Twitter after he had spoken with the Greek Prime Minister Alexis Tsipras.

A realistic proposal by the Greeks had an equally realistic proposal meeting of creditors in order to create an agreement in the debt dispute, he continued writing.

11:45 clock – Greek Prime Minister Alexis Tsipras is seeking ways a possible agreement with donors on an aid package by the Parliament to bring, without risking a breach of the government camp.

As the German Press Agency on Thursday learned from Greek government circles, Tsipras wants the deputies of his leftist alliance Syriza a vote without party discipline according to their conscience.

Representatives of the left wing Syriza had announced to vote in any case against a new austerity program. Insiders expect up to 30 deviants. With a waiver of the party discipline, the Prime Minister would prevent it, that there will be a coming open breach in the government camp , it said.

Tsipras can, however, rest assured that the deputies of the main opposition parties will vote for an austerity and reform program. So that the majority would be virtually assured.The date for a possible vote in the Greek parliament is not yet known.

11:40 clock – EU Monetary Affairs Commissioner Pierre Moscovici has called in the debt crisis comprehensive and concrete reform proposals from Greece. “It is now essential (…) that these reforms are on the table,” the Frenchman said on Thursday the French channel France Inter.

It is a crucial day, have to go together to the responsibility and solidarity, he wrote on Twitter.

The deadline for submission ends, according to the European Commission at midnight . If there is not a complete package of Athens, threatening big trouble, said Moscovici. If the reforms were sufficient, however, it was possible to come up with the donors to an agreement.

Moscovici said Athens must repay creditors alone during the current month 4.2 billion euros. The question of debt restructuring not one of those that need to be solved in the next few days, the French Socialist. “All hope that Greece in the euro zone remains” Moscovici said, referring to the 18 other euro partners. “

The” Grexit “would be a collective failure.” The aim of the leaders of the Eurzone it is, with a new special summit on Sunday to arrive at a compromise. According to diplomats on Saturday is scheduled an emergency meeting of euro zone finance ministers.

11:34 clock – The Greek government is working under high pressure on new austerity and reform proposals to prevent an imminent exit from the monetary union. “The drachma is not an issue,” the spokesman of the parliamentary group of the Left Party Syriza, Nikos Filis said on Greek television. Athens will sign an agreement that will be socially just. That was the government’s intention, it said.

As the Greek press reported consistently, experts of the Finance Ministry in Athens are working closely with the French consultants, all the details have timely so ready, as the creditors they want . Early Thursday afternoon, the tops of the Greek parties should be informed of the content of the austerity-paper, reported the State Radio.

10:48 clock – ECB Grexit prepared: The departure of Greece from the euro can not be ruled by the Estonian Governing Council member Ardo Hansson’s opinion. The European Central Bank is prepared for such a scenario: about unconventional monetary policy measures and close cooperation with other central banks.

10:30 clock – Greek intellectuals are divided into two camps: between resistance and capitulation mind: Greece intellectuals are divided into two irreconcilable camps – for or against Europe .Kostas Th Kalfopoulos Greek author who writes about a “war of minds”.. Read his report here .

09:30 clock: The Italian newspaper “Corriere della Sera” hopes that in a commentary on Thursday a little more optimism in the Greek crisis : 

“The situation is quite dangerous, Angela Merkel said in a very Teutonic Summary overlooking the crucial summit on . Sunday there is no doubt: It is the worst moment for the euro and the most serious crisis of European integration

But history shows:.. crises are the fuel of Europe emerged from a World War, the Union has a common market after the crisis of the 70’s devised years; she has organized the extension after the fall of communism in 1989; it has the economy held together after the financial crisis of 2008.

They could other good surprises reserved tires can be repaired, cars can drive again: you just need to know on what. Street. “

09:20 clock: The liberal Latvian daily newspaper “Diena” compares the economic development in Latvia with in Greece:
“Two of the biggest victims of the financial crisis in Europe – Latvia and Greece – to develop completely opposite scenarios.

The victims have been through a lot. But while the financial situation on the Aegean coast, especially after the referendum on Sunday, to some extent, can be compared with waiting for the arrival of the Horsemen of the Apocalypse, there are in Latvia hope of increasing prosperity. “

09:15 clock: Bundesbank President Jens Weidmann braces itself against desires for further funding from the European Central Bank (ECB) for Greece. “The doubts about the solvency of Greek banks are legitimate and take every day,” Weidmann said at a meeting of the Bundesbank in Frankfurt.

“It must be clear that the responsibility for further developments in Greece and for any decision on financial transfers to the Greek government and the partner countries is -.

And not the Governing Council” The ECB has the emergency loans for Greece banks at almost 90 billion euros frozen.
If up to a final agreement on a new assistance program for Athens a bridge financing may be necessary it is for the policy to provide these, Weidmann said. Greece has 20 July repay EUR 3.5 billion government bonds which the ECB considers, among other things.

Moreover, the country owes the International Monetary Fund (IMF) nor more than 1.5 billion euros, which would actually have been due on 30 June.

“In any case, the euro system should not increase the provision of liquidity and the capital controls should remain in force until an adequate aid package agreed by all partners and the solvency of both the Greek government and the Greek banking system is guaranteed, “Weidmann said.

09:00 clock: The President of the European Central Bank (ECB), Mario Draghi, is not sure if it still comes to a solution in the debt dispute with Greece. “I do not know,this time it’s really difficult , “the Italian said, according to daily newspaper” Il Sole 24 Ore “.

On the question of whether Greece could expect help from Russia, he replies: “I do not think … The themselves have no money.”

08:10 clock: Greece needs the opinionLuxembourg Finance Minister Pierre Gramegna urgently submit its reform proposals. They were very disappointed that the proposals still not subject on the table, Gramegna said on Thursday in the ZDF “Morning Magazine”.

The time course of them away, even for the population and the economy.”The situation is worse every day.” “We need proposals and must analyze them,” Gramegna said.

The measures should be binding, and are also being discussed in the Greek Parliament. “And do it fast.” A discussion of debt restructuring he considers possible “. Remortgage is an issue that perhaps, maybe can discuss in the context of an overall package” It do not mean a haircut, he explained.

07:40 clock: The ATMs of Greek banks to the head of the Greek Banking Association, Louka Katseli, According filled until Monday are. Customers can currently withdraw a maximum of 60 euros a day.

06:50 clock: The German Institute for Economic Research (DIW) has warned of a breakdown of negotiations with Greece and a Euro-exit of the country. “The Grexit is the absolute worst option for all,” said DIW President Marcel Fratzscher Deutsche Presse-Agentur in Berlin.

“The would plunge Greece into a five to ten-year depression. And the German taxpayers would have to write off a lot more money. ”

Fratzscher assumes that Greece will have to rely on European aid for years. In addition, for the next two years he keeps a third auxiliary program with a volume of 30 to 40 billion euros for the Greek government for needed a double-digit billion amount for the Greek banks.

06:40 clock: In Greece refer currently around 2,200 German a pension . The recent pension payments were late June instructed according to the Federal Ministry of Social Affairs with no problems and on time on the Bundesbank to the Greek banks.

Been problems in the payment could not be reliably assessed. “We reserve the However, in view,” it said.
Overall, the end of June approximately 92,000 pension payments were therefore made ​​to Greece.

Mostly it were payments to the Greeks, who developed a pension in Germany and these get transferred to your account Greek.

06:20 clock: Even with an agreement in a debt dispute According to insiders couldbreak for the ailing Greek banks pending.

Several large institutions would probably be closed and merged with stronger, said people familiar with the thinking of the news agency Reuters. One of the insiders said, at the end of the four major money might houses National Bank of Greece, Euro Bank, Alpha Bank and Piraeus remain two.

According to a second insider Although mergers of banks are necessary. A reconstruction of the industry could also take place over an extended period of time.

The Greek banks have been hit hard because many customers have emptied out of fear of a withdrawal of Greece from the euro zone their accounts. At the moment, all banks will be closed until at least Sunday. At ATMs at most 60 euros can be lifted on the day. The Greek government hopes for a third bailout of the other euro countries and has announced detailed reform proposals for Thursday.

06:00 clock: The head of the International Monetary Fund (IMF), Christine Lagarde , has a debt restructuring for the danger of state bankruptcy Greece demanded. In addition to austerity and reform measures, this step was necessary for the restoration of debt sustainability of Greece, Lagarde said on Wednesday at an event at Washington’s Brookings Institute policy. In a report released last week, the IMF experts had advised to double the period of repayment of the loans granted by the euro-partners at Athens loans.According to IMF estimates Greece needs over the next three years also further assistance in the amount of at least 50 billion euros.

The share of euro-partner estimated the Washington-based organization to a minimum of 36 billion euros. The IMF estimate, however, was created before the recent escalation of the Greek debt crisis, the situation could therefore be even gloomier.

Greece was the first industrialized country fall last week at the Monetary Fund in arrears. Athens was the deadline for a due installment of 1.5 billion euros to elapse.Earlier, Greece’s euro partners phase out its aid program for Athens, after negotiations on an extension had burst.

Athens is currently seeking a third utility, on Sunday to find a special EU summit instead. The Greek population had however rejected the austerity and reform requirements of funders in a referendum.

“Greece is in an acute crisis situation that needs to be addressed,” Lagarde said. The IMF chief said that the IMF “fully committed” to stay in the search for a solution. Because of the Greek debt residue from the IMF, the organization must remit but no new financial aid to Athens. Greece will get in this question “no preferential treatment”, Lagarde pointed out.

05:50 clock: For Greece today is the final deadline for submission of new reform and austerity proposals dawned . Should the finance ministers of the other euro-zone countries will not get any detailed list of Athens until midnight, Athens gets in return probably also not a new aid package..

The formal request for new billions in loans, the Greek Government now put the euro bailout fund ESM, the output of the test method, however, is completely openonly when the expected for Thursday Reform list ultimately is able to consent, the EU special summit can on Sunday grant additional aids – or “Grexit” initiate.

Although Greece announced Finance Minister Euclid Tsakalotos advance on the implementation of the first changes to the tax and pension system for the beginning of next week. But this vague announcement he must now underpin also plausible details of its request by letter dated Wednesday.

Translation /  Der Tagessiegel

Die nächsten Stunden sind entscheidend

PHOTOS: AFP, dpa, Reuters)

Millennial Monitor, Washington, DC

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