Thursday, July 16, 2015

16 July 2015 10 p.m. CET - PEACE! At least for one month, in Brussels, till half August 2015

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/

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.

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

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.....

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!

15 July 2015 12 a.m. CET - new measures as of today Greece has to comply with

In Dutch: (English: scroll down for googe translate translation into English)

Griekenland heeft maandagochtend na een urenlange vergadering een akkoord bereikt met de andere eurolanden, over de voorwaarden voor verdere onderhandelingen over nieuwe financiële steun van het land. 
Wat zijn de voorwaarden waaraan Griekenland moet voldoen voor nieuwe steun?
Hier moet het Griekse parlement uiterlijk woensdag 15 juli mee instemmen:
- Het btw-stelsel stroomlijnen. Er komen drie btw-tarieven: 23, 13 en 6 procent.
Restaurants komen onder het hoge, standaard tarief te vallen. Primaire levensmiddelen, energie en water komen onder het middelste tarief van 13 procent. Het laagste tarief van 6 procent geldt voor medicijnen en theaterbezoek.
De uitzonderingspositie die de toeristische eilanden genieten wordt gefaseerd afgeschaft tot en met eind 2016.  

- Het hervormen van het pensioenstelsel, onder andere door de pensioenleeftijd te verhogen naar 67 jaar.
- Wetten die de onafhankelijkheid van het Griekse statistiekbureau Elstat garanderen.
- Een semiautomatische bezuinigingen op de uitgaven van de Griekse regering als het doel van een primair overschot (de inkomsten minus de uitgaven van de regering, exclusief de rentelasten op de staatsschuld) niet wordt gehaald.
Hier moet het Griekse parlement uiterlijk woensdag 22 juli mee instemmen:
- Het rechtssysteem verbeteren waardoor gerechtelijke procedures worden versneld en de kosten worden beperkt.
- De Europese richtlijn van het herstel en afwikkeling van banken omzetten in wetgeving.
In een samenwerkingsovereenkomst tussen Griekenland en de andere eurolanden is verder afgesproken dat:
- De privatisering van overheidsbezittingen wordt versneld. Staatsbezittingen worden overgeheveld naar een speciaal fonds, dat ervoor moet zorgen dat de verkoop en exploitatie ervan 50 miljard euro oplevert.
Daarvan wordt 25 miljard euro gebruikt voor de herkapitalisatie van banken. De andere 25 miljard wordt gebruikt om schulden af te lossen en te investeren in de Griekse economie.
- Markten worden geliberaliseerd en de arbeidsmarkt verder wordt gemoderniseerd.
- De Griekse regering een financieringsbehoefte heeft van tussen de 82 en 86 miljard euro. Er wordt nog onderzocht of dit bedrag naar beneden kan worden bijgesteld via alternatieve belastingmaatregelen of meer privatiseringen.
- Er van dat bedrag 10 à 15 miljard euro nodig is om de buffers van Griekse banken te versterken.
- Griekenland al op korte termijn geld nodig heeft. Voor 20 juli is dat 7 miljard euro en nog eens 5 miljard medio augustus. Dit onderstreept de noodzaak tot een snelle implementatie van de gemaakte afspraken.
- Deze afspraken een minimumvoorwaarde voor Griekenland zijn om voor een derde steunpakket in aanmerking te komen. 
Er zijn ook toezeggingen gedaan door de eurolanden, namelijk:
- Dat kwijtschelding van schulden niet mogelijk is, maar er wel zal worden gekeken naar de mogelijkheid om de looptijd van leningen te verlengen en de rente te verlagen.
- Dat de EU Griekenland gaat helpen om de banencreatie de komende drie tot vijf jaar met Europees geld te versnellen. Het gaat om 35 miljard euro dat al voor de Grieken was gereserveerd. Dat geld is ook bedoeld voor het financieren van investeringen en economische activiteiten.

IN ENGLISH, 'GOOGLE TRANSLATE'



Greece on Monday after an hour-long meeting reached an agreement with the other euro countries, the conditions for further negotiations on a new financial support of the country.
What are the conditions that Greece must meet for new aid?

Here the Greek parliament must be received Wednesday, July 15, agree:

- Streamlining the VAT system. There are three VAT rates: 23, 13 and 6 percent.

Restaurants come under the high default rate. Primary food, energy and water are below the middle rate of 13 percent. The lowest rate of 6 per cent applies to medicines and theater.

The special position to enjoy the tourist islands will be phased through the end of 2016.

- The reform of the pension system, including by raising the retirement age to 67 years.

- Laws that guarantee the independence of the Greek statistics office ELSTAT.

- A semi automatic spending cuts of the Greek government as the goal of a primary surplus (revenues minus government spending, excluding interest payments on the national debt) will not be met.

Here the Greek parliament must be received Wednesday, July 22, agree:

- The legal system thus improving judicial procedures are accelerated and reducing costs.

- The European Directive of the recovery and resolution of banks to convert into law.

In a cooperation agreement between Greece and the other euro countries is further agreed that:

- The privatization of state assets will be accelerated. State Assets to be transferred to a special fund, which will ensure that the sale and exploitation worth 50 billion euros.

Of these, 25 billion euros will be used to recapitalize banks. The other 25 billion will be used to repay debt and to invest in the Greek economy.

- Markets are being liberalized and the labor market is further modernized.

- The Greek government has a financing requirement of between 82 and 86 billion euros. There are still investigating whether this amount can be adjusted downwards through alternative tax measures or privatization.

- There that amount 10 to 15 billion is needed to strengthen the buffers of Greek banks.

- Greece all the money in the short term needs. For July 20 is 7 billion and another 5 billion in mid-August. This underlines the need for rapid implementation of the agreements.

- These agreements are a minimum prerequisite for Greece to qualify for a third aid package into account.

There are also commitments made by euro area countries, namely:

- That debt cancellation is not possible, but it will be well looked into the possibility to extend the maturity of loans and lowering interest rates.

- That the EU will help Greece to job creation over the next three to five years to accelerate with European money. It is about 35 billion euros that was already reserved for the Greeks. That money is intended to finance investment and economic activities.

Thursday, July 9, 2015

10 July 2015 - 6 a.m. CET - Greece bows to creditor demands in exchange for €53.5B bailout package

10 July 2015 - 6 a.m. CET

Greece bows to creditor demands in exchange for €53.5B bailout package

Greece met a deadline that counted on Thursday and made a series of sweeping proposals that its creditors needed by midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation.
The package met longstanding demands by creditors to impose wide-ranging sales-tax hikes and cuts in state spending for pensions that the left-leaning Greek government had long resisted

http://www.cbc.ca/news/business/greece-crisis-higher-taxes-pension-cuts-in-new-proposal-1.3144321

http://euro-drachma-grexit.blogspot.com/

10 July 2015 - 6 a.m. CET - Eurozone officials will now study the details of the plan -- which creditors say must include pension and tax reforms -- before a make-or-break summit of all 28 European leaders on Sunday

http://www.financialexpress.com/article/economy/greece-submits-new-bailout-plan-to-avoid-euro-exit/98346/

9 July 2015 10 p.m. CET - 10.10 pm - EU Dijsselbloem confirms to have received Greek proposal; The Greek government will seek a parliamentary vote on Friday to endorse immediate reform commitments it is offering euro zone creditors

NEW: 10.10 pm - EU Dijsselbloem confirms to have received Greek proposal, just now


www.dailymail.co.uk/wires/reuters/article-3154552/Draghi-said-doubt-Greek-solution-Tsipras-reforms-awaited.html

Reuters

ATHENS/FRANKFURT, July 9 (Reuters) - The Greek government will seek a parliamentary vote on Friday to endorse immediate reform commitments it is offering euro zone creditors in a race to win a new loan and avert bankruptcy and a possible exit from the euro zone.

Read more: http://www.dailymail.co.uk/wires/reuters/article-3154552/Draghi-said-doubt-Greek-solution-Tsipras-reforms-awaited.html#ixzz3fQUp324o
Follow us: @MailOnline on Twitter | DailyMail on Facebook

9 July 2015 - 8 p.m. CET - Greece says to submit proposals to creditors shortly

http://www.reuters.com/article/2015/07/09/us-eurozone-greece-proposals-idUSKCN0PJ26K20150709


9 July 2015 - 15 p.m. CET - Tsipras is putting together a reform package! Today

9 July 2015 - 15 p.m. CET - Tsipras is putting together a reform package! Today
http://in.reuters.com/article/2015/07/09/us-eurozone-greece-package-idINKCN0PJ0L620150709

Greek Prime Minister Alexis Tsipras raced on Thursday to finalize a tough package with tax hikes and pension reforms due within hours if Athens is to win a new aid lifeline from creditors and avoid crashing out of the euro.
Tsipras was huddled with advisers, pulling together a package of reforms that is expected to include much tougher measures than those included in a previous plan from creditors that was rejected by Greeks in a referendum on Sunday.
But having won wide public support at the referendum and the subsequent backing of opposition parties, an emboldened Tsipras is expected to have an easier time facing down any resistance at home, allowing him to focus to appeasing creditors.
The Greek daily Kathimerini said the package was worth 12 billion euros, bigger than a previous 8 billion euro plan because the economy - battered by two weeks of capital controls - was now expected to shrink 3 percent instead of growing 0.5 percent this year.
A government official, speaking on condition of anonymity, disputed the Kathimerini figure, saying the package was still a work in progress.
The offer must go far enough to satisfy skeptical creditors but may face resistance from the hard-left wing of Tsipras' Syriza party and from his junior coalition partner, the Independent Greeks, after the government campaigned and won a resounding 'No' to more austerity in a referendum on July 5.
In a sign of the some of the upcoming challenges Tsipras will face, the leader of the far-left flank of his Syriza party came out to denounce any imposition of harsh measures on Greeks.
"We don't want add to the past two failed bailouts a third bailout of tough austerity which will not give any prospects for the country," Energy Minister Panagiotis Lafazanis told reporters. "Greece is not facing execution, it is not ready to accept any fait accompli."
But Lafazanis also said it was clear Greece was looking to reach a deal soon with the institutions that will respect the "dignity" of people, leaving the door open for him to eventually back an agreement struck with creditors.
With banks shuttered and the economy grinding to a halt after two weeks of capital controls, Syriza rebels will have a tougher time making their case against any deal with creditors that paves the way for banks to open again.
Greece's European partners want the reforms proposal on the table by Friday and Athens has promised to produce it on Thursday at the latest. If satisfied, the European leaders would endorse the package on Sunday, averting a potential Greek exit from Europe's single currency.
Greece emerged last year from a deep recession that shrank its gross domestic product by a quarter over a six-year period, leaving a quarter of the workforce unemployed.
Government sources said proposed tax hikes would include - an increase in corporate tax to 28 percent from 26 percent; a rise in VAT on luxury goods to 13 from 10 percent; a rise in VAT on processed foods, restaurants, transport and some health services offered by the private sector to 23 from 13 percent and a VAT hike on hotels to 13 percent from 6.5 percent.
Greek islands would continue to enjoy tax breaks that creditors had sought to scrap.

(Additional reporting by George Georgiopoulos and Michelle Kambas; Writing by Matt Robinson and Deepa Babington; Editing by Peter Graff)

Wednesday, July 8, 2015

8 July 2015 7 p.m. CET - Tsipras: 'No further cuts/reforms; Dijsselbloem asking IMF and ECB for review

8 July 2015 7 p.m. CET - Tsipras: 'No further cuts/reforms'; Dijsselbloem/ESM asking IMF and ECB for review

Tsipras seems to want no further cuts/reforms:

http://www.independent.co.uk/news/world/europe/greek-debt-crisis-alexis-tsipras-attacks-austerity-programme-at-the-european-parliament-10375939.html

and even stronger in Dutch:

http://www.telegraaf.nl/dft/nieuws_dft/24245261/__Tsipras_wil_geen_verdere_bezuinigingen__.html

Tsipras seems to WANT to overlook the very privileged status of public 'servants' including their pensions; in Latvia etc. the reforms worked.

ESM (Jeroen Dijsslbloem) asks EU, IMF and ECB for bailout assessment:

http://www.reuters.com/article/2015/07/08/eurozone-greece-esm-letter-idUSB5N0ZA04920150708

Deadline for Greek proposal to be discussed on summit on Sunday 12 July is tomorrow, July 9, Thursday

The likeliness of

http://www.δραχμή.gr/

being Greeks future is increasing by the day.

http://euro-drachma-grexit.blogspot.com/

Tuesday, July 7, 2015

We 8 July 2015 7 a.m. CET: Sunday 12 July last EU summit about Greece INCLUDING decision!

We 8 July 2015 7 a.m. CET: Sunday 12 July last EU summit about  Greece INCLUDING decision!

http://www.npr.org/sections/thetwo-way/2015/07/07/420808166/eu-leaders-call-on-greece-to-offer-serious-and-credible-proposals

Be smart and buy

http://www.δραχμή.gr/


NOW - bids to internetavenue@outlook.com - after Sunday 5 July bids and prices will be HIGHER!

Tsipras to EU parliament:

Greece PM Tsipras tells EU parliament: Greece has been failed austerity lab experiment

Greek PM says he is confident Greece can meet creditor demands by the end of the week, and both sides must work to prevent a divided Europe.


EDITORIAL: but Letland, Estland, Latvia have been succesful ones!

7 July 2015 - 8 p.m. CET - Now EU top finance ministers. Merkel (in Germa): 'Decision (agreement/Grexit) matter of days. not of weeks'

Another deadline is July 20: by then a Greek ECB loan has to be repaid by Greece. If not: no money at all anymore.

1.6 bn euro - http://www.reuters.com/article/2015/06/30/greece-eurobonds-idUSL8N0ZG1QR20150630

Saturday, July 4, 2015

4 July 2015 11 p.m. CET - Ναι vs Όχι

Ναι = Yes, yes to EU yes to last EU proposal of June 25, 2015
Όχι = No, no to further bailout, no to latest EU proposal



Όχι = does not mean: Grexit. It is our impression Tsipras, Varoufakis c.s. could 'drag on' for many years with closed banks, going back to an economy with 'no money' where the 'wheel of money' and its use would have to be re-invented: to make market work.

Όχι = No could be used to make Greece truely communistic: no money required, all is centrally governed

Beware of Montenegro, that 'has the euro' but is not part of eurozone.

But...back to http://www.δραχμή.gr/


or not, one is a loser - even multibillionnaire - if one lets the 1 in a lifetime chance to buy http://www.δραχμή.gr/


go bye......

Some pictures to pass by time.




Thursday, July 2, 2015

Sunday, June 28, 2015

29 June 2015 7.30 a.m. CET - Greek banks remain closed for a week - 60 euro per day ATM limit

http://famagusta-gazette.com/banks-shut-in-greece-euros-a-day-limit-at-atms-p28672-69.htm

29 June 2015 7.30 a.m. CET - Greek banks remain closed for a week - 60 euro per day ATM limit

28 June 2015 10 p.m. CET - Download CREDIROR'S proposal to Greece as of 25 June 2015 !

28 June 2015 10 p.m. CET - Download CREDIROR'S proposal to Greece as of 25 June 2015 !


http://www.xn--jxafi7ax1b.gr/docs/269659465-Creditors-proposal-to-Greece-25-6-2015.pdf

http://www.δραχμή.gr/


(above domain name is for sale! be smart, buy now BEFORE referendum - look on site for email)


http://euro-drachma-grexit.blogspot.nl 

28 June 2015 - 8 pm - ECB keeps ELA = Emergency Lending Agreement to 90 billion euro + Greek banks remain closed Mo 29 June + Greek debt crisis: Banks to stay shut, capital controls imposed

http://www.bbc.com/news/world-europe-33305019

Greek debt crisis: Banks to stay shut, capital controls imposed

28 June 2015 6 pm - ECB keeps ELA going, but Varoufakis is anti-EU: Varoufakis:"If Europe Wants to Humiliate Greece, Do We Need Such Europe?"



http://www.hngn.com/articles/104765/20150628/greece-crisis-lawmakers-approve-bailout-referendum-grexit-looks-inevitable-austrian.htm


28 June 10 am CET - Will ECB stop ELA tomorrow? Will IMF call for default on Tuesday? Wait for July 5 'Greferendum'?

28 June 2015 10 am CET - Will ECB stop ELA tomorrow? Will IMF call for default on Tuesday? Wait for July 5 'Greferendum'?

http://www.timeslive.co.za/world/2015/06/28/Grexit-to-Greferendum-Athens-on-the-brink-of-default

'Grexit' to 'Greferendum': Athens on the brink of default

Aurélie MAYEMBO | 28 June, 2015 09:22

http://euro-drachma-grexit.blogspot.com/

Who is getting the film script rights for this drama, Hollywood?

 

Saturday, June 27, 2015

28 June 2015 - 8 a.m. CET - Parliament approves referendum; Greece's future in balance (5 July 2015 referendum)

Ynetnews - ‎41 minutes ago‎
ATHENS - Greece's parliament voted early Sunday in favor of Prime Minister Alexis Tsipras' motion to hold a July 5 referendum on creditor proposals for reforms in exchange for loans, with the country's future in the eurozone looking increasingly shaky.

http://www.ynetnews.com/articles/0,7340,L-4673422,00.html


28 June 2015 - 8 a.m. CET


27 June 2015 - 4 p.m. CET - Greece has closed doors for further talks - 4.30 pm: Greece will be thrown out


Greece has closed doors for further talks 4 p.m. CET 27062015


http://english.ahram.org.eg/NewsContent/3/12/133873/Business/Economy/Greece-has-closed-door-on-further-talks-Eurogroup-.aspx

27 June 2015 - Live updates - Greece gridlocked in crucial today's, Saturday's meeting - LIVE BLOG

Live reporting blog on:

http://rt.com/news/269026-greece-bank-debt-crisis/#.VY6cRmx7JUg.facebook

Friday, June 26, 2015

26 June 2015 5 pm CET: Greek gets 5 months EXTRA from Trojka

26 June 2015  5 pm CET: Greek gets 5 months EXTRA from Trojka

Till now, this news is only available in Dutch, because of BE:

http://www.standaard.be/cnt/dmf20150626_01749865

(use google site translator)

http://euro-drachma-grexit.blogspot.com/

26 June 2015: New meeting scheme: Saturday EU-Greece, Sunday Greek Parliament, Monday 29 all EU parliaments

26 June 2015: New meeting scheme: Saturday EU-Greece, Sunday Greek Parliament, Monday 29 all EU parliaments

Monday, June 22, 2015

22 June 2015 6.40 p.m. - Eurozone talks break off without agreement on greece bailout

22 June 2015 6.40 p.m. - Eurozone talks break off without agreement on greece bailout

http://www.ctvnews.ca/business/eurozone-talks-break-off-without-agreement-on-greece-bailout-1.2433907

http://euro-drachma-grexit.blogspot.com/

and....http://www.δραχμή.gr/, is for sale! Mail internetavenue@outlook.com to make a bid!

EU 'gives Greece six more months': Bailout is set to be extended after country's left-wing leader 'finally agrees to discuss cutting pensions



EU 'gives Greece six more months': Bailout is set to be extended after country's left-wing leader 'finally agrees to discuss cutting pensions' 

  • Greece and eurozone creditors are edging towards an eleventh-hour deal 
  • EU leaders said to be considering extending Greek bailout by six months
  • Move would give debt-stricken nation up to 18billion euros in rescue funds 
  • Greece needs to borrow more cash by June 30 or it will default on its debts

http://www.dailymail.co.uk/news/article-3133343/Greece-makes-ditch-offer-avoid-crashing-Euro-ahead-emergency-talks-Brussels.html

http://euro-drachma-grexit.blogspot.com/