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.
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