The EU and ECB agree that Greece receives 7 billion euro from the ESM, till 15 August 2015. That should be enough to cover repayments, amongst others to the ECB.
ECB increased ELA with 900 million.
The third bailout package for Greece, envisioned for half August 2015, should mount around 50 billion euro.
Tomorrow, 17 July, the German parliament is supposed to approve the 'Agreekment' of 12-13 July 2015.
JP Blankert, 16 July 2015, 10 p.m. CET
http://euro-drachma-grexit.blogspot.nl/
Thursday, July 16, 2015
16 July 2015 - 11 p.n. CET - 1) Trojka falls apart! 2) EU consensus re. Greece falls apart
16 July 2015 - 11 p.m. CET - Trojka, EU and Greece falling apart?
Editorial. Jean Philippe Blankert
IMF. Last days, an IMF report was published that Greece necessarily needs a debt cut. IMF went a step further, and said it would NOT help in any short term cash measures to rescue Greece if no debt cut is applied BEFORE short term cash funding.
Debt cuts were till now heavily opposed by amongst others Germany
EU. A growing number of EU countries refuse to have short term money be paid to Greece. UK MP opposes, though UK treasury agrees, Spain opposes, Finland and baltic states oppose.
ECB. When July-due repayments of Greece to ECB are not made this month, ECB is abruptly forced by its procedures to stop all dealings with Greece, which also means: no ELA. As soon as Greece - by lack of cash - issues debt paper, this is seen is 'forbidden currency printing' and Greece is expelled from the euro zone.
Greece itself. Parliament agreed 12-13 July 'Agreekment', but:
- Syriza is falling apart, Tsipras may be ending with a one person government (himself) seeking majorities for each separate issues
- EU itself is not capable to live up its 12-13 July 'Agreekment' in case IMF refuses to help regarding short term cash funding to Greece.
Editorial. Jean Philippe Blankert
IMF. Last days, an IMF report was published that Greece necessarily needs a debt cut. IMF went a step further, and said it would NOT help in any short term cash measures to rescue Greece if no debt cut is applied BEFORE short term cash funding.
Debt cuts were till now heavily opposed by amongst others Germany
EU. A growing number of EU countries refuse to have short term money be paid to Greece. UK MP opposes, though UK treasury agrees, Spain opposes, Finland and baltic states oppose.
ECB. When July-due repayments of Greece to ECB are not made this month, ECB is abruptly forced by its procedures to stop all dealings with Greece, which also means: no ELA. As soon as Greece - by lack of cash - issues debt paper, this is seen is 'forbidden currency printing' and Greece is expelled from the euro zone.
Greece itself. Parliament agreed 12-13 July 'Agreekment', but:
- Syriza is falling apart, Tsipras may be ending with a one person government (himself) seeking majorities for each separate issues
- EU itself is not capable to live up its 12-13 July 'Agreekment' in case IMF refuses to help regarding short term cash funding to Greece.
Wednesday, July 15, 2015
16 July 2015 - 5 a.m. CET: Reuters: Greek parliament approves bailout measures as Syriza fragments
16 July 2015 - 5 a.m. CET: Reuters: Greek parliament approves bailout measures as Syriza fragments
Greek parliament approves bailout measures as Syriza fragments
http://www.reuters.com/article/2015/07/16/us-eurozone-greece-idUSKBN0P40EO20150716
http://euro-drachma-grexit.blogspot.nl
16 July 2015 - 0.30 a.m. CET - It may take 30 years to sort out Greece - IMF; EU/Merkel in catch-22 situation regarding debt relief to Greece
16 July 2015 - 0.30 a.m. CET - IMF: it may take 30 years to sort out Greece; EU/Merkel in catch-22 situation regarding debt relief to Greece
It may take 30 years to sort out Greece - IMF
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11481588
Apart from this; Catch 22 between IMF and EU: IMF refuses to take part in programs that do not contain debt reliefs, whereas Merkel refuses to take part in programs to DO contain debt reliefs.
JPB
http://euro-drachma-grexit.blogspot.nl
15 July 2015 10 p.m. CET - More Greek troubles...for Tsipras
15 July 2015 10 p.m. CET - More Greek troubles...for Tsipras
Tsipras has two problems:
1) tonight, he will need the opposition to get the 'AGreekment' (rescue agreement) approved
and later he will have to replace the 'no voters' within Syriza; and replace some no-voting ministers as well.
2) Tsipras openly said: 'I will vote for the AGreekment, although I do not believe in it'
So international polical commentators are asking themselves: 'How will Tsipras enforce the Agreekment, even WHEN approved?'
According to zdf.de 10 p.m. news, Tsipras had to use his last card: a threat to step down as MP, when not enough Syriza people would support him.
There are not many people protesting on the streets; the ones demonstrating are all well-to-do public servants.
http://www.zdf.de/auslandsjournal/auslandsjournal-5988366.html
is a useful blog
JP Blankert, 15 July 2015
Tsipras has two problems:
1) tonight, he will need the opposition to get the 'AGreekment' (rescue agreement) approved
and later he will have to replace the 'no voters' within Syriza; and replace some no-voting ministers as well.
2) Tsipras openly said: 'I will vote for the AGreekment, although I do not believe in it'
So international polical commentators are asking themselves: 'How will Tsipras enforce the Agreekment, even WHEN approved?'
According to zdf.de 10 p.m. news, Tsipras had to use his last card: a threat to step down as MP, when not enough Syriza people would support him.
There are not many people protesting on the streets; the ones demonstrating are all well-to-do public servants.
http://www.zdf.de/auslandsjournal/auslandsjournal-5988366.html
is a useful blog
JP Blankert, 15 July 2015
15 July 2015 7 p.m. CET - Tonight Greek parliament will vote whether to accept EU deal - BUT Syriza is 'crumbling' ...
15 July 2015 7 p.m. CET - Tonight Greek parliament will vote whether to accept EU deal - BUT Syriza is 'crumbling' ...
40 Syriza's are expected to vote AGAINST
http://www.ft.com/intl/cms/s/0/db4d2f04-2b05-11e5-8613-e7aedbb7bdb7.html
But: Tsipras could change opponents of Syriza with expected 'yes-voters' last minute
24 p.m. Greek time voting.....
40 Syriza's are expected to vote AGAINST
http://www.ft.com/intl/cms/s/0/db4d2f04-2b05-11e5-8613-e7aedbb7bdb7.html
But: Tsipras could change opponents of Syriza with expected 'yes-voters' last minute
24 p.m. Greek time voting.....
15 July 2015 5 p.m. CET - UK Treasury BACKS EU plans to give Greece financial kickstart
http://rt.com/uk/273760-greece-britain-money-loan/
indeed, independent of PM Cameron!
indeed, independent of PM Cameron!
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