The big fat Greek blame game - page 3

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Tsipras will not resign - Livesquawk

Government official denies Tsipras will resignOur chums at Livesquawk reporting Reuters and a Greek government official saying that the PM will not be handing in his notice

  • Government reshuffle likely to take place after vote in parliament on Wednesday
  • Reforms bill to be submitted Tuesday (assume that's today)
  • Tsipras will not resign
  • Composition of Greek coalition is not expected to change

Another big day for Greece tomorrow so be aware that we may see risk being taken off the table like we have for the recent weekend activities

source

 

So what if he does not resign : he did all the worse he could. Some more bad will not change anything now

 

Greek fin min says government accepted compromise on deal with creditors

Tskalotos out on the wires a short while ago

  • many measures in deal have recessionary effects
  • Greece never said all targets could be achieved
  • to take time to see if deal is "economically viable"
  • will know final deal in 4 weeks

Meanwhile Spanish PM Rajoy says he will put his position on Greek accord to parliament. No time specified

EURUSD 1.1022 after 1.1036 highs EURGBP up through 0.7050 to post 0.7069 on weaker UK wages data but back to 0.7052 now

source

 

Tsipras has finally turned up - says he is proud of the 'fight' over the past 5 month

Greek PM Tsipras addressing the Greek parliament

  • Says we are called on to take decision with responsibility
  • Says Ii feel proud of the fight we have conducted over the past five months
  • Says certain that this fight will bear fruit

Even the IMF calls the agreement the Greeks are being asked to approve a crock

 

EU agrees in principle to provide €7bn bridge loan to Greece - Finland passes Greek m

Bloomberg with one of their big red headlines

  • Confirmation could be announced tomorrow
  • Waiting for parliament votes before announcing loan

It was widely known that the loan was good, in principle

Also popping up is Finland's Stubb confirming Finnish parliament approved the mandate for Greek bailout talks

Another hurdle vaulted

 

Greece: Day 11 After 'No' - Short Summary & Game Plan

Last night the Greek parliament passed the reform legislation needed to pave the way for the EU bailout (229 yes out of 300). Tsipras faced strong opposition within his own Syriza party with 38 MPs (32 No / 6 absent) not backing the measures, leaving government majority at 124.

Backing from 120 members is required keeping the government in place, so Tsipras has survived but is very weakened. · The Eurogroup welcomes the adoption by the Greek Parliament and decided to grant a 3-year ESM stability support to Greece.

Greece bridge loan is set to be approved with 7bn being disbursed from EFSM fund · Finnish parliament Grand Committee approves Greek bailout programme

Today’s ECB meeting was dominated by questions about Greek (18 out of 23).

Draghi said on the press conference that the ECB increased ELA to Greek banks by 900mn over one week.

Greek media reports banks to reopen Monday or Tuesday next week (no details on capital controls).

source

 

Greece sends invite to IMF to start discussions

An invite to Athens from GreeceMNI report that the invites have gone out

Greece's deputy fin min Mardas has been out also saying that the government is looking to issue a ministerial decision to ease up on some "procedural issues" for some firms caused by capital controls. They will also review ATM limits in due course

 

This is never going to end

 
on my own:
This is never going to end

Why should it end. They have a perfect excuse for any s...t they do now

 

IMF cannot join Greek bailout - Livesquawk

IMF put the cat among the pigeons

Livesquawk with a report that the IMF says that Greece's debt burden is too high for them to consider a third bailout

The news comes from Peter Spiegel in the FT

There was a two hour IMF board meeting on Wednesday in which the the board was told that Greece's debt levels and poor reform record disqualify the IMF from a third bailout

Even so, it seems that the IMF may still take part in the bailout negotiations but may not decide to agree any new program, perhaps into 2016

The spanner in the works comes from the IMF only deciding at a "stage two" part of the negotiations if Greece has agreed more reforms and Eurozone lenders have agreed on debt relief

Many in the EZ have said that a haircut for Greece is off the table

The news is just what sellers were looking for to kick EURUSD down through 1.0920 to a 1.0911 low

source

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