- The International Monetary Fund confirmed that Greece has failed to repay its loan rate.
- At midnight, the loan program for Athens expired.
- The Greek government wants to apply for a new, two-year-equipped utility. The euro zone finance ministers on Wednesday to advise on.
- In the Greek government reportedly prevails probably disagreement, how to deal with the current range of creditors.
IMF confirms default
Greece has its overdue loan installment of 1, EUR 5 billion in due time to the International Monetary Fund (IMF) repaid. The money was not received on Tuesday, as the IMF tells in Washington shortly after midnight European time. So Athens is not broke, but as currently Sudan, Somalia and Zimbabwe to the IMF in arrears. What does this mean exactly, is in this play.
Finance talk about the suggested Athens
The Euro Group will discuss on Wednesday from 11.30 clock continues on the new proposals made by the Greeks , Furthermore, she advised on Tuesday evening in a conference call. A few hours later, around 0 clock the loan program for Greece was officially made.
The Greek government on Tuesday afternoon an applied two years , presented a new program that Athens supplied with emergency loans and imposed reforms. Accordingly, the European rescue fund ESM should cover the financial needs of the country, while rescheduled parallel.
From the office of Prime Minister Alexis Tsipras says: “The Greek government will work until the end of a proper agreement within the Euro-zone level, this is also the message. be a no to a bad agreement in a referendum next Sunday. “
In the announced referendum the Greek people to decide on an earlier offer the lender. Tsipras has called on the citizens, ‘no’ vote.
Merkel consults with the SPD
German Chancellor Angela Merkel has spontaneously after a request for a third tool with the SPD leadership the new location advice. On the edge of the caucuses in the Bundestag, Merkel retired for less than ten minutes to talk with SPD leader Sigmar Gabriel, the SPD parliamentary group chairman Thomas Oppermann and Union parliamentary leader Volker Kauder.
Official negotiations on a new assistance program are only possible after the referendum on Sunday, said the Chancellor. The Chancellor said that even after the program ends at midnight the talks would not cut: “The door is open for conversation threads.” For an extension of the program beyond midnight it was too late.
Apparently dissent in Athens
Within the Greek Government, there is obviously a conflict about how the land to creditors should behave. So to some members of the government have for accepting the offer the creditors. The reports the newspaper Kathimerini on Tuesday afternoon, citing government sources.
Thus, the office of Prime Minister Alexis Tsipras had already informed the EU Commission that the proposal of the creditors would be examined. Whether Tsipras accepts the offer, initially remained open. Still on Tuesday morning BelTA learned from the environment of the Greek Government, Tsipras will vote in the referendum on the creditor proposals on July 5, definitely “No”.
demonstrations in Athens for whereabouts in the euro
In Athens demonstrated according to police on Tuesday night in front of the Parliament at least 20,000 people for a “yes” to the creditor proposals in the referendum. The rally was organized by an initiative entitled “We remain in Europe”. The participants expressed concern regarding the potential departure of Greece from the euro. On Monday had in Athens 13,000 people supported for the left out of the Government ‘No’ in the referendum demonstrated.
Use from Brussels
set a deal between Athens and the creditors at the last minute requires that Tsipras accept the most recent proposal from creditors and the referendum on July 5 for a ‘yes’ advocate. This was reported on Tuesday morning from EU circles. This would Tsipras by letter against European Commission President Jean-Claude Juncker, Euro group chief Jeroen Dijsselbloem, assure Chancellor Angela Merkel and French President François Hollande, the report said.
Banks Open partially
Greece wants to open on Wednesday temporarily in 1000 bank branches for pensioners , Pensioners with no credit or debit card should be possible to come to their remuneration. That explained the Ministry of Finance in Athens. The branches will remain open for this purpose to Friday. The majority of pensions in Greece shall be paid in cash.
The rating agency Fitch, however, the credit rating of Greece reduced by one notch to “CC” from “CCC”.
Tusk denied Tsipras extension
With the formulated on Sunday evening to request extension of the expiring utility Greece is unsuccessful. The leaders are against the extension of the program ending on Tuesday, wrote summit chief Donald Tusk to the Greek Prime Minister Alexis Tsipras (here the letter as a PDF).