Find EU and Greece still a way out of the crisis ? Or is it already too late? The government of Athens has now presented a reform list. All information in the news ticker.
- Continue negotiations with Greece
- Athens hopes to cash injections from China and Russia
- IMF will not tolerate any deferred payment
Acute shortage of money..: Greeks drift billion euros by forced adoption a
16.59 Clock: Athens is again in search of Money: The Greek government is forcing all state institutions and public to transfer operations by decree, their deposits at the Bank of Greece (Bank of Greece). This overdue debt to the International Monetary Fund (IMF) and other commitments in the coming weeks will be paid. The decree was published on Monday. Prior to the meeting of euro zone finance ministers this Friday (April 24) in Latvia negotiate experts, meanwhile, under high pressure through a Greek reform package. The head of the Russian state monopoly Gazprom, Alexei Miller, traveled this Tuesday for talks on closer energy cooperation to Athens.
Athens hopes for state enterprises to around three billion euros. The government needs 1.1 billion for salaries, pay 850 million for pensions and obligations to the IMF amounting to nearly one billion euros to 12 May, reported the Athenians financial press. Athens in early April it had succeeded with the help of deposits from pension funds to meet commitments to the IMF and avert a default. However, the board members of some pension funds and state-controlled companies are refusing to date, to transfer their deposits for so-called repurchase agreements to the state.
“Unsuitable”: IMF head Lagarde supports Money Collectors Varoufakis clearly cope
Intensive Greece talks before Euro Group meeting
13.37 Clock: Before the meeting of euro zone finance ministers this Friday (April 24) in Latvia negotiate experts under high pressure through a Greek reform package. “The work was intensified,” said the chief spokesman for the EU Commission in Brussels. The so-called “Brussels Group” day after consultations over the weekend and on Monday and Tuesday. The ministerial meeting in Riga was the next opportunity to take stock.
An agreement on a comprehensive reform list is a precondition for the donor to the release of 7.2 billion euros that were previously blocked. The money is desperately needed from Athens to avert a government default. But diplomats expressed doubt that a compromise on reforms at the end of the week will be possible.
Greece provides new franc shock
12.29 Clock: European investors fear manifest that could escalate the situation in Greece. This can be seen especially in the Euro exchange rate: The euro fell not only against the dollar, and the exchange rate against the Swiss franc fell to a renewed deep
A Euro cost in the morning only 1.02 francs -. The goal is actually a course of about 1.10 CHF per euro. The Swiss “look” subtitled “New Franken-shock!” Also a statement, offering the Journal: “Investors from the euro area to flee because of the uncertainty about Greece again towards Franconia and thus weaken its own currency.”
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0.0017 + (+ 0.17%)
IMF sees movement in talks with Athens
11.47 Clock: The IMF is in talks between Greece and its international lenders first movement. "For some days a little more momentum in the negotiations between the three institutions, the Greek government has come," said Poul Thomsen, European head of the IMF, the "Handelsblatt". "This is a good development and is cause for hope."
Man but was still "far from the target," Thomsen curtailed. The negotiations should get a further boost when a timely agreement should succeed. The budget of the Greek government might still ranged up to June, estimated Thomsen. "The repayment burdens which then come to Greece, are very large. We need before an agreement so that further aid loans can be paid."
Thomsen warned to underestimate the risks of a possible withdrawal of Greece from the Euro-zone ". For example, the risk that the euro zone would be considered a club where one can go in and out as you please" As a result, there could be doubt as to the whereabouts of other countries in the monetary union.
EUR exchange rate fell - more worries about Greece
11.03 Clock: The Euro exchange rate has fallen on Monday in the face of continued uncertainty over Greece. The European single currency cost 1.0780 US dollar in early trade. The European Central Bank (ECB) had the reference price on Friday at 1.0814 (Friday: 1.0711) fixed dollar. A solution of the Greece problem is not in sight. "The euro group meeting at the end of the week will remain in regard to Greece, probably without a resolution, because the negotiations appear to falter," writes the Landesbank Hessen-Thüringen (Helaba) in a comment. Market Moving Economic data were not expected in the further course of trading.
10.06 Clock: In the debate as to manage the debt crisis in Greece European Commissioner Günther Oettinger throws (CDU), the Euro country the right to delay the necessary negotiations. In recent weeks, there was "virtually no progress in the negotiations with the Troika institutions," Oettinger said the "Bild" newspaper. The reform efforts of the country were "low", Greece Time run. The country was therefore "in May finally financially with their backs to the wall," warned the German EU Internet commissioner.
Greek Foreign Minister accuses Germany "Financial racism" before
09.15 clock In Greece these days makes a book a sensation that Germany "Financial racism" accused. Posted it has calculated the Greek Foreign Minister Nikos Kotzias.
"The new Germany has the leading role in Europe, but they lack the culture ", the "Bild" newspaper quoted the Scripture , "Germany punished others is unfair and rude."
Germany would lead to " like a colonial master ," citing further the sheet. "In Germany there are financial nationalism that leads to financial racism against countries such as Greece."
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IMF: Finally progress in negotiations on debt Athens
Monday, April 20, 08.21 clock: After weeks of stalemate there are, according to a newspaper report first progress in talks between Greece and its international creditors. "For some days a little more momentum in the negotiations between the three institutions, the Greek government has come," said the European head of the International Monetary Fund, Poul Thomsen, the "Handelsblatt" (Monday edition). This is "a good development," the "reason for hope" give.
Despite the progress of the negotiations IMF, European Central Bank and the European Union are with Athens but still "far from the goal," said Thomsen , You would have to get a lot more momentum when a timely agreement should succeed. The budget of the Greek governments would perhaps suffice to June, said the head of the IMF's European Department. The amortization expense, which then zukämen on Greece, were very large. "We need an agreement beforehand, so that further aid loans can be paid," warned Thomsen.
Greece threatens without additional financial support to the insolvency and possibly an exit from the euro. The negotiations with its lenders on a reform program - the requirement for the disbursement of the next tranche - came so far but no progress. The negotiators of the lender defendant, the Greek Government had submitted only vague suggestions
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