Eurogroup Gives Greece 10 Day Ultimatum: Apply For Bailout Or Grexit - page 19
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Bundestag to Give Green Signal to Greeks on Bailout
The German parliament, the Bundestag, is due to vote on Friday about the third bailout program for Greece following the tough negotiations last weekend and a vote in Greece's Parliament that approved the deal and passed necessary legislation on Wednesday as a pre-condition to starting new bailout talks.
Germany's finance minister Wolfgang Schaeuble made one more attempt on Thursday night to turn the mood against the deal as he maintained and repeated his view that a temporary Grexit would be a better option for Greece.
The Social Democratic Party(SPD), which is a junior partner in the current ruling coalition led by Angela Merkel, accused Schaeuble of undermining the deal she had reached over the weekend but some of her Christian Democrats defended Schaeuble.
"Wolfgang Schaeuble is not undermining the chancellor," conservative lawmaker Mark Hauptmann said. "He is keeping the option of a Grexit on the table - and that's absolutely the right thing to do."
Hauptmann is one of those who intend to vote against the bailout.
Even so, the Bundestag is expected to support Merkel overwhelmingly during the vote. A "test" ballot of conservatives on Thursday showed that a clear majority would vote in favor of the negotiations in Friday's parliamentary vote as would the majority of SPD lawmakers.
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German parliament approves government negotiations for new Greek bailout
Result from the German Bundestag on the Greek bailout
And all that was worth 10 pips to the Euro :-D
Result from the German Bundestag on the Greek bailout
- Votes 439-119 in favour
- 40 abstain
And all that was worth 10 pips to the Euro :-DNow they can start pretending that they did a favor to Greece
Now they can start pretending that they did a favor to Greece
Wasn't that the case from the very beginning? 15 years ago
Greek banks said to re-open on Monday
The Greek finance ministry says banks will reopen on Monday after being closed for 3 weeks
They didn't say, but it would seem to be appropriate advice with money in a Greek bank ... try not to think of it as yourmoney
The Greek finance ministry says banks will reopen on Monday after being closed for 3 weeks
- The 60 euro a day withdrawal limit will remain, or 420 euro can be withdrawn in one hit once a week
They didn't say, but it would seem to be appropriate advice with money in a Greek bank ... try not to think of it as yourmoneyIn the mean time banks are transferring as much money as they want OUT of the country. The robbery goes on
This is how the Troika "negotiated" with Greeks : Yanis Varoufakis full transcript: our battle to save Greece
Greece parliament passes reform bills needed to open bailout talks
Greece approved a second prior actions bill on Thursday that was demanded by creditors before they negotiate a third rescue package in a parliamentary vote of 230 to 63 and with five voting present.
The bill was widely expected to be approved as it was supported by the main opposition parties, but Prime Minister Alexis Tsipras also managed to contain further defections from his own party, Syriza, and stay on in his post.
Still, Tsipras lost 39 of his MPs last Wednesday, 32 of who voted no and five voted present. Tsipras acknowledged that if he would fall below the 120 minimum majority threshold in this vote, he would resign.
As the prior actions approved early Thursday concerned only the Civil Action Code reform and the adoption of banking consolidation regulations, Tsipras managed to contain his party's leaks and reduce the votes against to 36 from 39.
The parliamentary vicotry gives Tsipras some breathing space to begin negotiations with creditors for the third bailout package as soon as Friday. The deadline to finalize a deal is Aug. 20 when the next repayment to the European Central Bank is due.
In a speech prior to the vote, Tsipras said the package will include an agreement on debt restructuring and rules out a Greece exit from the euro zone.
IMF joins the Greek talks Monday
Musn't forget the oik in Troika!
Mike's just reported that Friday's talks will now be Monday and perhaps one of the reasons they've been delayed is that the IMF weren't part of the original meeting yesterday. Those talks were supposed to be between Greece, the ECB, ESM & EU
Maybe Christine felt she might have been missing out on something special so has put her foot down. Anyway, the invite Greece sent out to the IMF yesterday has ben accepted and the IMF will now be rocking up for a chat. The invite to the IMF yesterday was to ask for discussions on a new IMF loan
While the Athens stock markets remain closed, the re-opening of banks has seen further easing in capital controls with Greeks now able to take €2000 euro's out of the country. Companies have also had the limit for money transfers abroad raised to €100k, though any transfers are still being vetted by Greek authorities
Troika talks with Greece will now be Tuesday
Friday, Monday, Tuesday...I give up
Bloomberg report an email from the Gree finance ministry saying talks will now start on Tuesday. These will be talks with "technical teams" with mission chiefs coming in a few days after that
Apparently the reasons for the delay is due to technical reasons, not political or diplomatic
If you really want to know when the talks will be, shut your eyes and stick a pin in a calendar
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