ECB approves Greece plan to reopen stock market

ATHENS, July 28 – Greece is slowly taking steps to emerge from Bank Holiday  as teams of examiners from the institutions have already fanned out to the General Accounting Office and Bank of Greece to do preliminary work ahead of the institutions coordinators expected to arrive Wednesday.   

The European Central Bank given the green light for the Athens Stock Exchange to reopen. Greece submitted to the ECB plans to reopen the Athens stock market after a month long shutdown. Reuters reports that Greece regulators proposed two different plans for the reopening: one plan allows unrestricted trading.  And a second plan imposes restrictions on trading by Greek investors to prevent capital  flight.

Institutions representatives meet in Athens on Wednesday

ATHENS, JULY 28 – Working groups of examiners from the four institutions are at the General Accounting Office and Bank of Greece today. The focus of the task is public finances, the pension system and labor.

The On Wednesday representatives from the four institutions are expected to arrive to begin technical negotiation

The government hopes to keep the presence of the Troika folks low key – in the past protestors have thrown coins at the auditors. For this go round of audits, however, Greece has put in place a 250 man security team to follow the auditors everywhere they go. A helipcopter tracks movement overhead. 

Leading the institutions delegations are Declan Costello (European Commission), Rasmus Rifer (ECB) Nikola Tziamaroli (ESM) and Delia Velkouleskou (IMF).

Finance Ministry officials say the shared goal of the government and the institutions is to complete an agreement on quickly as possible. The work of the examiners is expected to be completed on Friday with final details completed on the weekend.

TheGreece government is being proactive and spinning their expectations that no news conditions will be added to the Agreement reached at the Brussels Summit,.

Political tensions follow Veroufakis revelation of EBC control of Finance Ministry computers

On Sunday it revealed that the European Central Bank controls access to the Greece Finance Ministry computerized tax and revenue operations. Former finance minister Yanis Veroukasis had to place a secret five man crew in the control center to be ready to activate an emergency parallel banking scheme if Germany’s Wolfgang Schäuble pulled the Grexit dagger and plunged Greece into financial chaos

New Democracy is first out to gate sending up  trail balloons maybe the Supreme Court needs to get involved. They like to suggest that somehow Veroukasis stole stuff and snooped into taxpayer records.

Recall that Yanis Veroukasis was the Finance Minister. He designed – he did not have authority to implement – an emergency payment system to enable the government to pay for stuff like hospital supplies.

When the Troika worker bees pass by Katrina Savvaidis : Κατερίνα Σαββαΐδου desk in the Public Revenue department she can demand they turn in their passwords.

Reporting in Ethnos.gr / Guardian contributed to this report.

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