Greece's Euro Exit Seems Inevitable - page 2
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Greek govt officials leaving Brussels without a deal done with EU/IMF
I think we kinda guessed that huh?
Greek govt official on Rtrs
Grexit May not be a Bad Thing: Warren Buffett
American business magnate Warren Buffett has said Greece's possible exit from the euro zone may not have a detrimental impact on the currency bloc and may even turn out to be beneficial.
"If it turns out the Greeks leave, that may not be a bad thing for the euro," Buffett told CNBC in an interview on Tuesday.
"If everybody learns that the rules mean something and if they come to general agreement about fiscal policy among members, or something of the sort, that they mean business, that could be a good thing."
Negotiations between Greece and its international creditors enter another round of technical talks on Wednesday, with technical teams of the 19-nation euro zone finance ministries, known as the EuroWorking Group, scheduled to hold further discussions via a teleconference.
The Greek premier has recently vowed to win an honorable compromise from Greece’s lenders, however, he ruled out raising sales taxes on food and medicine, or shaking up the labor market, saying these "red line" measures could plunge Greece back into recession.
"I’ve thought that the euro had structural problems right from the moment that it was put it in, which does not mean it will necessarily fail," Buffett said on CNBC. "You can adapt to those structural problems, but maybe some countries won’t adapt and they won’t be in. It’s not ordained that the euro has to have exactly the members that it has today."
He also noted that, over time, the countries in the euro zone would need to implement a higher degree of coordination in their labor laws, fiscal deficits and general management of their economies.
"It can’t continue with people going in dramatically different directions," Buffett said. "The Germans are not going to fund the Greeks forever."
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Seems that nobody cares about the Greece
Now when they served the purpose (being in debt for the next couple of centuries) they can leave ... cynical
It would be better for Greece to exit
The same as for any country except a few privileged in the EU
You really think so?
They are already preparing Drahma
They are already preparing Drahma
They should leave the EU
That is their only chance
Drahma Queens...
Greece Has Cash to Make IMF Payment Next Week, Minister Says
Greece won’t default on payments to the International Monetary Fund next week even as a lack of bailout disbursements has left government coffers nearly empty, according to the minister responsible for meeting the obligations.
Greece has an IMF payment of about 450 million euros ($494 million) due on April 9. With euro-area officials withholding aid payments until an agreement is reached on economic overhauls, the government also has to get through a short-term debt auction a day before, to refinance 1.4 billion euros of six-month notes due April 14.
“The country will pay the IMF on April 9,” Alternate Finance Minister Dimitris Mardas said in an interview on Mega TV on Saturday. “There’s money there for payment of salaries, pensions and whatever else is needed for all of next week. That doesn’t mean that there isn’t for the week after. This is a political decision that will be taken, and we will follow whichever political decision.”
Greece and euro-area authorities are in negotiations about a package of measures proposed by the government to repair its economy, a condition for the release of bailout funds. The standoff has left the nation’s banks dependent on European Central Bank loans, with Greece facing the risk of a possible default within weeks and a potential exit from the euro area.
Meeting Lagarde
Finance Minister Yanis Varoufakis will meet IMF Managing Director Christine Lagarde in Washington on Sunday for an informal discussion on the Greek government’s reform package, according to an e-mailed statement from the Finance Ministry.
Prime Minister Alexis Tsipras will visit Moscow next week, with Russia ready to discuss easing restrictions on Greek food products, according to Russian government officials. Russia isn’t considering financial assistance to Greece, they said.
Greece and euro-area authorities pledged to press ahead with efforts to reach an agreement, according to three officials with knowledge of a conference call of finance ministry deputies on Wednesday. Greece sent more details on its budget and economic proposals ahead of the call, including combating tax evasion and streamlining public administration.
“There is a cash shortfall problem if there isn’t any disbursement to Greece,” Alberto Gallo, head of European macro-credit research at Royal Bank of Scotland Group Plc, said in a Bloomberg TV interview. “I think this reform plan is a good step. It goes deep enough on the technical details; it can be deepened even more.”
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Cypriot President Throws Greeks Under The Bus: "Planning To Deal With Grexit"
"I want to believe that there is no such risk," says Cypriot President Nikos Anastasiades, but in a shock to the Greeks, their close 'ally' in Cyprus, as KeepTalking Greece notes, openly joined the international Grexit propaganda club, as Anastasiades said his country had a backup plan to deal with the fallout of a possible Greek exit from the eurozone.
As ekathimerini reports, Cyprus President Nikos Anastasiades told a media conference in Nicosia on Friday that Nicosia has a backup plan to deal with the fallout of a possible Greek exit from the eurozone.
"I want to believe that there is no such risk," Anastasiades said in response to a reporter's question. But to be on the safe side, Nicosia has "prepared a plan to deal with whichever outcome may transpire," Anastasiades said, citing a Cypriot saying according to which "forward-looking children cook before they get hungry."
Anastasiades added that there was no "great" risk to the Cypriot economy in such a case and that measures had been drawn up to tackle "the minimal risk... and reduce it further."
Also on Friday, Anasastasides announced that Cyprus will next week lift the last of the capital controls that were imposed two years ago as part of a 10-billion euro European bailout.