Tuesday, June 30, 2015

Greece proposes two-year debt deal with ESM to avert default

 Greece's government proposed a two-year debt deal with the European Stability Mechanism (ESM) in a last-minute bid to avert the countdown to default and a possible Grexit, office of Greek Prime Minister Alexis Tsipras said on Tuesday.

"The Greek government proposed today a two-year agreement with the ESM to fully cover its financial needs, and a parallel debt restructuring," the e-mailed announcement said.

"The Greek government will seek until the end a viable solution within the euro zone. This is the message of No to a bad draft deal proposal on Sunday," the statement added.

The Greek government stressed that the decision to call on Saturday a referendum for July 5 on the draft agreement lenders made last week "was not the end of negotiations."

Greece remains at the negotiating table, the statement concluded.

The press release was issued a few hours before the extended Greek bailout expires on Tuesday midnight amid increased concern over a looming default and possible Grexit.

Earlier on Tuesday, Greek Finance Minister Yanis Varoufakis had said that Athens will not repay the loan installment due to International Monetary Fund Tuesday.

Greece's failure to meet its financial obligations to IMF for a second time in a month and pay off 1.5 billion euros (1.67 billion U.S dollars) in loan installments to the Fund could launch formal procedures to default in coming weeks.

  xinhuanet.com
30/6/15
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3 comments :

  1. Eurozone finance ministers will hold a teleconference in Brussels at 1700GMT to pronounce on Greece's latest proposals for the bailout, according to a tweet from Eurogroup head Jeroen Dijsselbloem on Tuesday...

    The latest Greek bailout proposals, a last-ditch effort made hours before a default on Greece's obligations to the IMF, involve a two-year long bailout plan in collaboration with the European Financial Stability Facility, a crisis fund available to Member States.

    The Greek proposal details have not been made public, but they reportedly involve debt restructuring along with coverage for the country's immediate financial needs.

    Greece may also cancel the referendum on the bailout scheduled for Sunday if a deal can be struck on Tuesday, Alternate Foreign Minister Euclid Tsakalotos said on Tuesday.
    aa.com.tr

    ReplyDelete
  2. Tsipras demande un nouveau prêt à l’Europe, Merkel s’y oppose...

    Le gouvernement grec a adressé à ses partenaires européens une demande de prêt afin de permettre à la Grèce de faire face à ses obligations liées au service de la dette. Selon cette lettre (postée sur le site Politico.eu) envoyée au président de l’Eurogroupe Jeroen Dijsselbloem et au président du Mécanisme européen de stabilité (MES, successeur du Fonds européen de stabilité financière où est logé l’actuel programme d’assistance), cette demande de prêt « rencontre les conditions spécifiées dans les règles du MES ». En outre, Alexis Tsipras formule aussi dans cette lettre la demande d’une restructuration et d’un étalement de la dette publique grecque, « dans l’esprit des propositions de la Commission européenne destinées à assurer la soutenabilité » de cette dette. Enfin, d’ici à ce que prêt soit accepté et entre en vigueur, la Grèce demande que son Programme d’assistance qui expire ce mardi à minuit, soit « prolongé pour une courte période afin d’éviter qu’un défaut technique ne soit déclenché »..............lesoir.be

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  3. Eurogruppe berät über Tsipras' neuen Vorschlag...

    Griechenland bittet um ein drittes Hilfsprogramm, das Geld soll aus dem Rettungsfonds ESM kommen. Merkel will vor dem Referendem nicht weiter verhandeln.............zeit.de

    ReplyDelete

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