Tuesday, June 30, 2015

Greece pays IMF loan rate is not returned in due time – FAZ – Frankfurter Allgemeine Zeitung



WASHINGTON (Reuters) – Greece has repaid a loan installment of € 1.5 billion due time to the International Monetary Fund (IMF). The money was not received on Tuesday, said the IMF in Washington. At the same time Greece had asked for an extension of its debt repayment. With this, the IMF peak will employ “in due course”.

The IMF leadership had been informed about the failure to pay, informed spokesman Gerry Rice. Greece could thus only receive new IMF funds if the arrears are paid.

The lack of Greek debt to the IMF had been widely expected after the collapse of crisis talks the government in Athens with international donors. About immediate sanctions the IMF, however, does not have. / Pm / DP / he


Greek Crisis Athens has not paid

Greece, after the words of Euro group chief Jeroen Dijsselbloem submit new proposals in the debt crisis on Wednesday. Until then, the country is doing everything possible to delay the insolvency. The IMF deadline but it has to elapse More

01.07.2015, 00:33 clock |. Economy

Greece Athens pays credit rate

Greece has a loan to the International Monetary Fund repaid on time, struggling with the euro-partners but continued to disburse urgently needed funds. Now the Greek government to its reform plans, according to representatives of the Euro-Zone revise later than April 21, so that the euro zone finance ministers can vote a few days later about it. More

13.04.2015, 10:47 am clock | Politics

After meeting with IMF chief Varoufakis promises loan repayment

The Greek Finance Minister Yannis Varoufakis has pledged that Greece all agreed obligations towards its creditors einhalte unlimited. Currently, creditors and the government in Athens struggle for the disbursement of the last loan installment of expiring aid program amounting to EUR 7.2 billion. More

04.06.2015, 10:26 clock | Politics



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Greece pays rates to the IMF not back – SPIEGEL ONLINE

 The history of rating agencies goes back to the 19th century, when the US rail network was expanding across the continent. The required credits that could not shoulder alone the banks. Industrial companies began to issue bonds in order to raise funds. Today three agencies dominate the market: Standard & amp; Poor’s, Moody’s and Fitch

Standard & amp. Poor’s (S & P): Henry Varnum Poor published 1868 “Manual of the Railroads of the United States,” in which investors were given information about the railway companies. 1941 fused the Poor’s Publishing Company and the Standard Statistics Company to rating agency Standard & amp; Poor’s. The rating ranges from AAA (“triple A”, excellent credit, virtually no risk of default) than BBB (satisfactory) to D (in default of payment, no credit).
Moody’s: John Moody founded in 1909, Moody’s Investors Service, which is recognized by the US Securities and Exchange Commission since 1975. The ratings range from Aaa to Baa1 on C
Fitch Ratings. In 1924 in New York from the Fitch Publishing Company of John Fitch, the company Fitch Ratings. All three companies have their headquarters in New York, Fitch Ratings also in London; They have offices all over the world. The rating ranges from AAA to D.
Rating Agencies assess the creditworthiness of companies, banks and States and awarded to different credit ratings. It released figures are also channeled as industry estimates or judgment of management.
The worse they assess the creditworthiness of a market participant, the more expensive and more difficult it is for them to get some money. Refinancing costs are rising, at worst draw their capital from financial backers. (: P Ba1, S & amp: BB +, Fitch: BB + Moody’s) are considered “junk” in the credit rating be based not only banks, but also for example institutional investors

Highly speculative bonds.. If a bond classified as speculative, for example, central banks need to sell them.

 Critics, it often remains unclear how much of the credit ratings (ratings) is mathematics and which opinion. In the financial crisis, rating agencies have been pilloried: Because they extolling junk securities as safe investment, you complicit in the crisis was given



Euro crisis – IMF confirmed: Greece has not paid – Süddeutsche.de

  • 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.


Euro Crisis This is the voting list for the Greek referendum

The question that will be submitted to the public on Sunday, is complicated.

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.

crisis in Greece Three scenarios for the outcome of the crisis

If Greece in the euro or is it for Grexit? And then there is the risk of contagion in Europe. analysis

Your Forum What should the Greek government now?

The time for a compromise between Greece and its creditors expires. Referendum, Grexit or a subsequent agreement. Which way should choose Tsipras? your forum

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).


Livescores for Greek crisis: +++ 22:00 Euro Group agreed next … – n-tv.de NEWS


 Tuesday, June 30, 2015


Just before almost: The Greek government has asked the International Monetary Fund (IMF) for an extension of the deadline for repayment of overdue loans. Responsible for Economic and Financial Affairs Deputy Prime Minister Yannis Dragasakis told the Greek TV station ERT, the government has asked for an extension until November. At the IMF, a request had been submitted.

The Greek Government requested that only a few hours before the payment is due in the amount of around EUR 1.5 billion for an extension. Earlier, the government in Athens had, however, stated that it would pay the amount not or only under the new aid package of barware. IMF head Christine Lagarde had in turn, however, already clearly ruled out a “grace period” for Athens.

22:45 +++ US stockbrokers look to Athens +++
Investors on Wall Street have recovered only slightly from the price slide start of the week. The Greek debt dispute kept the US stock market traders continue to speed. But there was still the prospect that it will come to an agreement between Greece and its creditors said David Moss, head of European equities at asset manager BMO Global Asset Management.

The Dow Jones index closed after meantime clearer winning only 0.13 percent higher at 17,619.51 points. On the eve of New York’s leading index had slumped by almost 2 per cent and had thus recorded the largest daily decline since October 2014. For the June and the second quarter of the stock market barometer thus recorded losses of 2.17 or 0.88 percent. Also for the year is now a clear loss of more than 1 percent impact.

22:10 +++ Greece would for grants to referendum refrain +++
The Greek government has the Euro Group apparently offered to work for a “Yes” in the referendum or to cancel the referendum, if one could agree on new funding. According to some participants circles were then burst the collar during the call of the Euro-group members.

22:00 +++ Euro Group agreed next telephone appointment +++
New day, new call: The Euro Group will draw on Wednesday at 11:30 clock back to the phone, to discuss “the current state of affairs”. That gave Euro group chief Jeroen Dijsselbloem known.

21:45 +++ Vice Dragasakis does not wash his hands of +++
Give him the blame? Deputy Prime Minister Dragasakis stated that he had Prime Minister Tsipras advised to accept the offer, the creditor and excited to cancel the referendum.

21:14 +++ Athens asks ECB to Ela-increasing +++
The Greek central bank has asked for information from Deputy Prime Minister Yannis Dragasakis the ECB to consider increasing the ELA emergency aid into consideration. In addition, Athens had requested the IMF to postpone the due installment of 1.6 billion euros, he says the state television. IMF head Christine Lagarde had a “grace period” for Athens, however, already clearly ruled out.

21:05 +++ Obama does not expect a global “shock” +++
For US President Barack Obama, the Greek crisis may have “a significant impact” on economic growth Europe. With a “major shock” for the global system, he did not expect Obama said in Washington. The Greek crisis is indeed “worrying”, but “overreact” no reason.

20:40 +++ euro zone finance ministers reject extension from +++
The euro zone finance ministers have the request of Greece to extension of expiring at midnight utility rejected. This was announced by the euro group chief Jeroen Dijsselbloem. In order that the bankrupt threatened country loses final access to resources of around 18 billion euros. For a further extension of the program it was too late, Dijsselbloem said. The Euro Group had advised only around an hour on the subject.

20:35 +++ ECB advises again on bailouts +++ The European Central Bank is
discuss this Wednesday again on emergency aid for Greek banks. This was announced by the Austrian Federal Reserve Chairman Ewald Nowotny. At the same time, the Governing Council member in Vienna voiced sharp criticism of the leaders in the Greek government. In his estimation, they played “Poker” in the negotiations on a possible extension of the second aid program for Greece

20:20 +++ Dijsselbloem:. Athens sets on Wednesday new proposals +++
Greece will submit to the words of Euro group chief Jeroen Dijsselbloem on Wednesday new proposals in the debt crisis. The Euro Group will advise on the same day about it, he said after the teleconference of the Euro Group

20:15 +++ Stubb:. Extension and haircut for Athens unfeasible +++ A short-term extension of
Greek aid program and a haircut is not possible to estimate the Finnish Finance Minister Alexander Stubb. These steps had brought in a new auxiliary request into play Greek Prime Minister Tsipras.

The head of the euro bailout fund ESM, Klaus Regling, calling it regrettable that the support program for Greece runs out at midnight with no connection agreement. “The positive results of the program are therefore at risk.” Under the ESM-EFSF predecessor of the rescue package has outstanding 130 900 000 000 euros in Greece

20:00 +++ Malta. Greece ready to suspend referendum +++
Greece is in principle prepared to suspend the planned debt referendum, in the words of the Maltese Prime Minister Joseph Muscat. Condition is an agreement with creditors, Muscat said in parliament of his country

19:45 +++ Juncker mysterious. “It happen things that the media are not prepared” ++ +
While the euro zone finance ministers should discuss in a conference call about a new offer by the Greek government, EU Kommissionepräsident Jean-Claude Juncker announced on receiving the foreign press in Brussels that he would “immediately” again his “desk back”. Reason was “important things that happen in Athens.” In this are the journalists present “probably not prepared”, the Commission chief said mysteriously. They would “produce results that do not correspond to the articles that you have written today.”

After this announcement the recent statements of the EU Parliament President Martin Schulz will appear in a new light: “It is certainly rare, that one can talk about historical events, but what is happening currently, what has happened in the last hours, (…) the I have never experienced in my political life, “said Schulz in Brussels.

19:25 +++ Media: Hellas asks for postponement of the IMF payment +++
The government in Athens will, according to According to a media report it to repay the loans to the IMF. What “image” reported without giving a source, they changed the application that did not pay about 1.6 billion euros, in a request to shift.

19:00 +++ Merkel: “Before the referendum we negotiate anything” +++
Chancellor Merkel has stressed once again that the federal government will negotiate with a government in Athens again until after the scheduled Sunday referendum. “Before not a referendum, is the way it is planned, carried out, we will re-negotiate anything,” Merkel said at a meeting of the parliamentary circle SME Union in Berlin. At this position also altered by the fact that it had now been “unspecified to be classified offers”.

“Greece has taken the decision that at midnight tonight, the second aid program expires,” Merkel said.

18:45 +++ large police at Syntagma Square +++
today demonstrate in Syntagma Square in Athens, the “yes to referendum” -Anhänger. And have company: “In contrast to the” No “-Anhängerdemo yesterday the police clearly visible,” says n-tv.de-editor Jan goers from Athens. Just a teenager had been loaded into a police car in front of him. Next to him stood a few dozen riot police with helmets and shields. Now even start yet to a thunderstorm. “Take the metaphorical”, recommends him Alexandros, 44 years old, doctor.

18:30 +++ Turkey offers assistance to Greece +++ The
Turkey wants Greece to help the neighbors and former nemesis from the crisis. His country was ready to do everything in its power to ensure that Greece can overcome the debt crisis, the Anatolia news agency quoted Turkish Prime Minister Ahmet Davutoglu. As an example he cited a cooperation in the sectors of tourism, trade and energy. The spokesman for the president said on request of journalists that Turkey has not received any loan request of Greece

18:15 +++ Brussels circles. Today, no funds for Greece +++
The Euro Group will today release, according to a representative of the euro area “in no case” means, so that Greece can pay its overdue on Tuesday IMF loan rate.

17 +++ : 40 Papandreou called for a “Yes” +++
Ex-Prime Minister George Papandreou has CNBC, a “Yes” in the referendum called only way for Greece to “stay strong.” With “Yes” vote is very patriotic.

On Twitter Papandreou was criticized and asked to better times to talk about how he and his father have this crisis in the first place contributed to the plea.

17:25 +++ banks open for pensioners in Greece +++ The
for capital shortages in Greece closed banks open from Wednesday to Friday for pensioners, which in many cases have no debit or credit cards. This was announced by the Greek Ministry of Finance with thereby correcting messages Greek media had reported by Bank openings only on Thursday.

According to the decision of the European Central Bank over the weekend, freeze emergency loans for Greece, the banks are expected to remain in Greece to at least 6 July closed. At the machine, people can currently withdraw a maximum of 60 euros per day. As the Greek newspaper “Ekathimerini” reported the employees union of the National Bank of Greece, the government has asked to provide the banks for the opening times with sufficient police protection.

+++ 17:05 “Greece remains at the negotiating table “+++
When the request for a third bailout package, the Greek Government stressed their willingness to negotiate. Here the excerpts from the latest request for help from the Greek Prime Minister’s Office:

“From the beginning, we have made it clear that the decision on the holding of a referendum is not the end but the continuation of negotiations for the improvement of means conditions for the Greek people. Greece remains at the negotiating table. “

” The Greek government has today a two-year agreement with the ESM proposed for the full cover their financing needs and with simultaneous restructuring of debt. “

“The Greek government will work until the end of a proper agreement within the euro zone. It is precisely this the message of NO in poor agreement in the referendum this Sunday will be.”

Find Here more details on the Greek request for the third tool.

16:35 +++ euro group wants to talk about Greek aid request +++
The euro group wants at 19.00 debating clock in a conference call about the new Greek aid request. This was announced by Euro group chief Jeroen Dijsselbloem with.

16:25 +++ Merkel opens the door for today +++
Chancellor Angela Merkel is determined by a leakage of second Greek aid package from midnight. To report on alleged new negotiating offers from Athens Merkel said, according to participants in the Unions Parliamentary Group, “today nothing will happen.”

They have pointed out that this was already no longer able to because for an extension of the rescue package, a method was needed, in which also the Bundestag would have to agree. The CDU politician pointed out that the further political developments in the Greek crisis is difficult to comprehend. “We must move in”

+++ 16:05 Athens Mayor calls “No No to “+++
Athens Mayor has called on the population to vote in the referendum on Sunday to vote for the proposed by international donors austerity and reform program that rejects the government of Prime Minister Alexis Tsipras. As the Greek television reported Giorgios Kaminis urged the Greeks to a “No to No” to.

The socialist Pasok politicians criticized the referendum polarize the Greeks. The Mayor of Thessaloniki Yannis Boutaris, spoke of an imminent split in Greece: “I hope they will find a solution without a referendum.”

15:45 +++ Media: Greece asks for new utility +++
The Greek government plans to ask its euro partners to a third tool. As Report Bloomberg and Reuters, citing a statement from the office of Minsterpräsident Tsipras, is a two year program be applied for under the Euro-relief fund ESM. Thus the financial requirements should be covered. At the same time should be carried out a remortgage. “Greece remains at the negotiating table,” it said. The goal is a “viable solution to remain in the euro zone”.

15:25 +++ Briton seeks collect via crowdfunding Greek IMF debt +++
With a crowdfunding project a British shoe salesman wants to grasp the danger of national bankruptcy Greeks under the arms. Until Tuesday afternoon 8525 people donated 134,487 euros – total would come together just over 1.5 billion euros to be paid by Athens until Tuesday at the International Monetary Fund. If each of the 503 million Europeans the equivalent of a “salad with feta cheese and olives” donation, the sum would easily together, Thom Feeney said.

He could understand if some thought the project was a joke, Feeney said “But crowdfunding can really help.” If he does not reach its destination within seven days, he’ll be back remit all donations received via the Internet platform IndieGoGo again, the 29-year-old announced. Personally, the idea for Feeney seems already paid: “When I woke up this morning, I had with Facebook friend requests from 30 Greek women.”

Here you can read the full story

. 14:45 +++ Schäuble: Greece remains in “No” in the euro zone +++
Federal Finance Minister Wolfgang Schäuble has stated before Union deputies that Greece even with a “No” remains in the referendum on Sunday in the euro zone. The said one participant in the session.

The European Commissioner for Financial Stability, Jonathan Hill, expressed his confidence that the financial system of the international community will master any developments in Greece.

+++ 13:45 Merkel: No evidence of last-minute agreement +++
According to German Chancellor Angela Merkel Brussels Athens has made no new listing. “The last offer from the Commission’s last Friday week,” Merkel said in Berlin. “All I can contribute.” Opportunities for agreement with Greece at the last minute on Tuesday does not see. “Tonight, exactly 24 clock Central European Time, the program is running from. I know of no other reliable evidence.” At the same time, she stressed that the talks would not cut well after the deadline. The door stood open wider.

13:36 +++ Athens Denies drachma plans +++
The government spokesman in Athens, Gavriil Sakelaridis, has utterances of the former General on public finances, Haris Theoharis, rejected on preparations for a return to the drachma. According to the newspaper Kathimerini, he described them as “science fiction scenario” and “monumental irresponsibility” of Theoharis. According Theoharis the office of Prime Minister Alexis Tsipras said to have formed a working group to organize the transition to the drachma. Theoharis is now spokesman for the Liberal Party To Potami.

program Note

For the Greek debt crisis brings n-tv today at 12.30 clock, 13.30 clock to 14.30 clock a News Special entitled” war of nerves to Greece “.

13:32 +++ Varoufakis: figures IMF debt not back +++ Greece on Tuesday is, according to the Greek Finance Yanis Varoufakis not afford the due repayment to the International Monetary Fund over 1.6 billion euros. A government official also confirmed that the Greek Prime Minister Alexis Tsipras, European Commission President Jean-Claude Juncker and European Central Bank President Mario Draghi spoke on the phone. Details on the call are initially unknown

13:02 +++ Insider:. “Too late” for extension of the rescue package +++
is holding a German government representative an extension of the current aid program for Greece at the moment out of the question. But it was “too late”. The program runs after the failure of debt talks between Greece and its creditors at midnight.

12:35 +++ Athens shifts news conference after EU deal +++
According to the new offer of mediation from Brussels, the Greek government has postponed a press conference. It was expected that the government spokesman expressed the proposal of the EU in the afternoon, reported dpa. The messages about how Prime Minister Alexis Tsipras sees the proposal are contradictory. Some media in Greece reported, citing government sources, he saw the proposal negatively. Other sources spread, Tsipras stand opposite him positively.

12:05 +++ rumors about turnaround of Tsipras +++
A Greek newspaper report that Prime Minister Alexis Tsipras the recent proposal of EU Commission chief Jean-Claude Juncker still draws to an agreement at the last minute into consideration, is driving the stock markets in Europe upwards. Tsipras have be explained in Brussels that he check Juncker’s recent proposal, reported the Greek newspaper “Kathimerini”. The offer should include providing debt relief in October. Where the information originates, the newspaper left open

11:26 +++ newspaper “To Vima”:. Pressure grows on Tsipras +++
Deputy Editor the English-language edition of the daily Kathimerini, Nick Malkoutzis, tweeting that the pressure on the Greek Prime Minister Alexis Tsipras part of some ministers is growing. He makes reference to a report of the moderate weekly newspaper “To Vima”. Tsipras was in contact with European Commission President Jean-Claude Juncker, states citing Skia TV.

11:17 +++ Economic Institute calls “conciliation” +++
A conciliator as in industrial disputes to defuse the crisis in Greece. The demands the union-affiliated IMK economic research institute. “Europe urgently needs a mediator to come out with the aid of the impasse in the negotiations between Greece and its creditors,” said IMK Director Gustav Horn. The main problem was the “fundamental distrust” between the actors. Suitable Schlichter was the secretary general of the OECD industrialized countries organization, Angel Gurria, or the leadership of the International Labour Organisation.

10:54 +++ Urgent appeal from Brussels to Tsipras +++
Brussels is taking a placement test at the last minute. If the Greek Prime Minister Alexis Tsipras on Tuesday still accept the offer of the financiers and advertising for a ‘yes’ in the referendum, the way for another euro zone finance ministers meeting could be leveled, according to EU sources. The assurance of Tsipras to austerity package needed to go to the President of the European Commission and the Euro Group, Jean-Claude Juncker and Jeroen Dijsselbloem as well as German Chancellor Angela Merkel and French President Francois Hollande. On the night of Wednesday, the support program for Greece runs on the European side of

10:45 +++ Treasury. Payout to pensioners limited +++
Greek pensioners without cash card come from Wednesday to Friday, although of cash. The payoff, however, is limited to 120 euros, according to the Greek Ministry of Finance. Many Greek pensioners have no debit card and can be your references to the bank to pay in cash. Banks are open in the second half of the week only for pensioners. Regular open the banks at the earliest on Tuesday in a week. With Greek money cards a maximum of 60 euros per day’re unable to ATMs are lifted

10:12 +++ Many banks open on Wednesday -. But only for retirees +++
Greece wants to temporarily open from Wednesday 1000 bank branches for retirees. Pensioners without credit or debit card so should come to their remuneration. That explained the Ministry of Finance in Athens. The branches are to remain open for through Friday. The majority of pensions in Greece shall be paid in cash. Officially the country’s banks are closed until next Monday (July 6th). At ATMs Greeks can still stand a maximum of 60 euros per day

+++ 9:19 Nobel laureate Stiglitz:. “We know how I would choose” +++
The Greek Finance Minister Yanis Varoufakis posts an article by Nobel Laureate Joseph Stiglitz, in which this underpins his opinion that the EU is following the wrong path when Greece theme. Anyway’ll fail the referendum, both routes would pose great risks, Stiglitz writes in the “Guardian”. A “yes” would mean a long-lasting depression. At the end of Greece could also get a debt relief and support of the World Bank.

A “No” would the Greeks against the possibility to keep open, to take their destiny into their own hands. Greece, which is characterized by a strong democratic tradition, could make their own future – far more hopeful than the unscrupulous torture the present. “I know how I would choose,” writes Stiglitz

+++ 9:14 S & amp; P:. Probability of Grexit 50:50 +++
The rating agency Standard & amp; Poor’s downgraded the credit rating of Greece on Monday by CCC down at CCC. This corresponds to a stage prior to complete payment default. The probability of Grexit puts S & P now 50 percent

+++ 9:02 Söder: “Parent Grexit would be the better way” +++
. Bavarian Finance Minister Markus Söder (CSU) has been campaigning for a withdrawal of Greece from the euro zone again. “I believe that at the end of a clean-prepared and reasonably organized Grexit the better way would be,” he said in Germany radio. Söder also criticized the behavior of the Greek Prime Minister Alexis Tsipras in relation to the planned referendum. “He believes that there are better options on the negotiating for a No. The whole thing is so deeply irresponsible that you can say here a playing with Europe, but above all with his own people.”

+++ 8:53 Banking Federation: “are prepared to default” +++
The Association of German Banks (BdB) does not expect any major impact on the financial markets if Greece’s credit debts amounting to 1.5 billion euros from the IMF will not pay. For the savers in Germany there is no need to worry, the savings are safe, CEO Michael Kemmer told the “Passauer Neue Presse”. The risks to the German banks are manageable because they are “only very moderately engaged” in Greece. At issue is an amount of less than four billion euros

+++ 8:44 Green leader Özdemir:. “No one has covered itself with glory” +++
Green Party leader Cem Özdemir saves in an interview with n-tv not with criticism of the Crisis Management: “Neither side has covered itself with glory Nothing has arrived, what Mrs Merkel and the EU have also predicted that Tsipras government has.. not with glory: negotiate in Brussels, try to find a solution and to present the result at home to the people, that’s ok But to say ‘I want a’ no ‘, which makes little sense “

<.. p> Özdemir warns in an interview also against the financial consequences of a Grexit “numbers we do one way or another if Greece knocked out from the euro zone and we have an impoverishment in Greece, then we are not talking about a country somewhere far away, but then talk. we “see

+++ 8:37 Fitch” a member state of the EU, the impoverished. limited default “+++
The rating agency Fitch upgraded the capital controls in Greece as “restricted default” for the four major banks in the country. The credit guards lowered their ratings for the debt of the National Bank of Greece, Piraeus Bank, Euro Bank and Alpha Bank to “Restricted Default”. This is the second-worst rating. Thus a very high risk of default for creditors is displayed. It is unlikely that the rating scores would be raised before a lifting of capital controls again, complemented the analysts

+++ 8:21 Le Figaro. “Referendum is a deception” +++
The referendum in Greece is hot topic in the international press. The conservative French daily “Le Figaro” commented the recent developments as follows:

“The referendum that Alexis Tsipras suggested the Greeks, has everything from a feint The Prime Minister pretends he would be satisfied with. to ask them for their opinion on the terms of the creditor, and as it would not bring an exit from the euro (Grexit) with it. In truth, Tsipras’ call to the people is nothing but a political ‘coup’, which under the mask hidden of direct democracy. Unable to keep his promise and with his radical majority to lead the country in conditions of catastrophic state of the economy, he calls on citizens to choose between him and Europe. The announced referendum is the only branch that remains to him to cling to power “

The Belgian newspaper” De Standaard “writes:

“. know the Greeks that they outside the euro no salvation have expected. But if they vote yes, that would not legitimize the continuation of failed debt policy. In any case, it amounts to a decrease of a conquered people. The way how the European leaders to deal with the citizens of a Member State is poor, frightening. One can expect that those who were so completely derail a first manageable problem, admit their mistakes, at least. “

+++ 7:50 Athens threatened with an action before the ECJ +++
Greece wants to avoid a departure from the monetary union at all costs. But the government is also considering to take legal action against institutional organs of the European Union before the European Court of Justice (ECJ). This writes the British newspaper “The Telegraph”. “The Greek government is all their legal rights to use,” said Finance Minister Yanis Varoufakis.

+++ 7:40 prelude losses on Europe’s stock exchanges expected +++
stockbrokers expected to trade opening in Europe with further losses. But with the sale of the day before they are unlikely to be comparable, they say. During the day, the classes might even recover. It is conceivable, “that we see short covering,” said one trader. Then could it quickly go up. From panic because Greece could be no question.

+++ 7:16 pension fund can pay no pensions +++
The pension fund IKA has announced on Tuesday no pay pensions. For this purpose the Fund is unable because of the problems. According to a press release to the affected pensioners who have worked at telecom company OTE, to be informed about the date of the pension payment in a separate release. According to data of the Greek Ministry of Labour of the delay are 57,000 people affected.

+++ 7:08 Euro at $ 1.12 just stable +++
On the foreign exchange market plays the announcement of Greece not to pay the now maturing IMF rate, not matter. The euro defended with just $ 1.12 to be somewhat higher level.
  Source: n-tv.de



There are only 1,599,800,724 Euro: Briton wants to save Greeks via crowdfunding – n-tv.de NEWS


 Tuesday, June 30, 2015


 Because he “bored” is of contending politicians, taking a 29-year-old Briton, the rescue of Greece into their own hands. Every European should contribute only a few euros to zusammenzubekommen the necessary billion.



The Europeans are – perhaps with the exception of politicians like Angela Merkel – generous, Thom Feeney is safe. That’s why he do not trust to even more to the people than the governments to rescue the heavily indebted Greece from bankruptcy. The political wrangling will now “boring”. “Why do we bring, the people who do not instead alright?”, The shoe salesman from York wrote on the crowdfunding platform IndiGoGo. He has launched an appeal for donations, with which he wants to collect 1.6 billion euros for Greece.

If any of the 503 million Europeans the equivalent of a “salad with feta cheese and olives” donation, the sum would easily together says Thom Feeney. Until Tuesday afternoon, more than 13,000 people have already donated a total of almost 200,000 euros. For the rest of the good 1,600,800 euros he has set a deadline of one week.

He could understand if some thought the project was a joke, says Feeney, “but crowdfunding can really help.” If he does not reach its destination within seven days, he’ll be back remit all donations received through IndieGoGo again, announces the 29-year-old. . Feeney himself has no links to Greece according to its own information

Should the project be successful, it is for donors and rewards: Depending on the height of the donated sum they can, on a postcard by Prime Minister Alexis Tsipras a feta and olive salad or even happy a Greek holiday for two. Originally Feeney offered even to a Greek island for those who wished to donate the entire sum of EUR 1.5 billion at a time. Under pressure from IndieGoGo the 29-year-old took this offer but returned because the Greek Government had not agreed.

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So how exactly the rescue in the event is to run a successful fundraising campaign, Feeney knows itself not. “We promise that all income will go to the Greek people,” he writes. Also that with 1.6 billion euros paid just the last monthly installment from the IMF, the total debt of Greece more than 300 billion but hardly could be facilitated considerably, Feeney does not enter.

With the Greek He has also not spoken directly to its own statements, government. But there were rumors that Prime Minister Alexiss Tsipras wants to get in touch with him, reported Feeney

Personally, the idea for the initiator seems to be paying anyway. “When I woke up this morning, I had with Facebook friend requests from 30 Greek women. “

  Source: n-tv.de


Greece: Tsipras confused the euro partners – THE WORLD

the Greek government and representatives of the Troika start a few hours before leaving a current utility last attempts at mediation. The government in Athens asked therefore the euro partners is a new, two-year aid program from the euro rescue fund ESM .

The Greek top attributes this to the financial emergency. “As you know, the Republic is facing urgent financial problems in the second half of 2015 and for the full year 2016″, says the letter, which is pending before the European news service Politico.

It is a reversal of the government Tsipras. So far, she stressed but always that they aspire no third utility. However, this commitment did not correspond to economic realities. The international creditors have so far gone firmly believe that Athens will need a new tool.

Warms Athens the old positions only new to?

If the negotiators of the new proposal from Athens for astonishment caused. “First he rejects all measures for another program from” it said of a diplomat. “Then he suddenly wants to negotiate a new aid program. That’s just absurd. The man overwhelmed me. He wants to push only to new concessions creditors simply.”

Other negotiators declared that the proposal from Athens have no news value. It would merely reproduced the known positions.

The Greek Government requested in writing in addition to new loans and debt relief for the existing debts at the emergency rescue fund EFSF. The liabilities should be restructured with the aim that “the Greek debt sustainable in the long term and operate” remained.

Athens is facing national bankruptcy. Last Saturday, the ministers of the euro group still had stated that they would not extend the current credit offers to Greece. Tonight, 0.00 clock, they run out.

Photo: Infographics World

The euro zone finance ministers had responded that Prime Minister Tsipras had negotiations on a reform and austerity measures, which should pave the way for the disbursement of billions in loans stopped, and scheduled a referendum on the final status of negotiations on Sunday.

Juncker started daring initiative

Greece threatens a financial mess. On Monday the government had to close the country’s banks, the maximum sum that Greeks must stand out in cash, was limited. It is already spoken about the possibility of Grexits.

Already on Monday night was European Commission President Jean-Claude Juncker launched an initiative to defuse the situation. In a telephone conversation he explained Tsipras that there were still opportunities to avert national bankruptcy.

diplomats said Juncker offered an extension of the current aid program. Condition is that the head of government for reform and austerity confess that to him from the European Commission, European Central Bank and International Monetary Fund sent late last week the Troika.

When convened Sunday referendum Tsipras should also promote a Yes. Their will, he should express in letters to Juncker, Euro group chief Jeroen Dijsselbloem, Chancellor Angela Merkel (CDU) and French President Francois Hollande.

However, the initiative was considered daring. Because until recently it was not clear whether it is at all technically and legally possible. The point at which an extension of the loan program would still be possible seemed so far to be at least long passes.

The German Bundestag and five other parliaments in the Euro -Staaten would support an extension. If the euro partners Greece decide to extend, without complying with the procedures, threaten at the end suits, among others before the Federal Constitutional Court.

The European Commission expressed not how the extension would be possible technically and legally. Juncker made a proposal for a “last minute deal”, said a spokesman. Also, Juncker had voted with euro group chief Dijsselbloem

Merkel:. “The door is open for discussion threads”

It was not clear last, as Tsipras would react. The Prime Minister had yet been very clearly indicated its opposition to the reforms and austerity measures. Likely referencing Now for approval him very difficult.

In Athens it is said to have the offer Junckers initially rejected so, was but then again on a conciliatory line swung. Perhaps he was willing to soften the call to reject the proposals. But these are still speculations. In circles of the Federal Government it does not anticipate that the initiative will be successful. You’ll be late, as that one still could extend the program.

German Chancellor Angela Merkel said she assume that the utility will overnight expire. “I know of no other reliable evidence,” she said. “All I know is that the last offer of the Commission, which is known to me, one last Friday week.”

Merkel stressed but that it continues to stay in the offer of talks with Athens: “Of course,” would not cut threads after midnight conversation, which was not common in the European Union. “That is, the door is open for conversation threads.”

Gabriel asks to cancel the referendum

The SPD chairman Sigmar Gabriel called on Tsipras to renounce to his recent alternative claim for the scheduled Sunday referendum. “The best thing would be if Mr. Tsipras cancels the referendum,” Gabriel said Tuesday on the outskirts of the SPD parliamentary group meeting. Then one can also quickly talk about the new application. However, no one should expect a rapid agreement between donors and Athens, stressed Gabriel. A solution is very complicated. With the expiry of the second program, the European Central Greece should be no further funding. Should it be necessary, Union and SPD want to re-start this Friday fraction special sessions.

Gabriel and SPD parliamentary leader Thomas Oppermann were on Tuesday afternoon for an interview with the CDU chairman, Chancellor Merkel, and Union parliamentary leader Volker Kauder (CDU) met. About ten minutes advised the leaders on Tsipras’ current letter, it was then in SPD circles. Then Gabriel emphasized, in light deviation to his remarks on Monday: “The door is open.” Berlin have always signaled that one is to “immediate talks” ready Tsipras should cancel the referendum. Gabriel emphasized that the second aid program run by 30 June from. The construction of a third aid program will not be easy.

Bundestag is in summer recess vote capable

Last time was in environment Troika been stressed that one ready would for a positive outcome of the referendum, to discuss on the basis of previous decisions a third loan program.

SPD parliamentary leader Thomas Oppermann praised foray Juncker, perhaps to find a last-minute solution to the Athens government: “. It is a last appeal to reason Mr Tsipras, still to take responsibility”

In an agreement with Greece, the Bundestag could advise short term and in the summer in a special session over, according to Oppermann. “We are always ready,” Oppermann said Tuesday before a group meeting in Berlin.

The Juncker initiative is in Berlin rather than symbolic signal before Seen scheduled for Sunday referendum to give the pro-European forces in Greece with the embassy lift, Brussels Leave no stone unturned.


Athens will start last in agreement attempt reform dispute – Reuters Germany

– Lefteris Papadimas and Renee Maltezou

Athens / BRUSSELS (Reuters) – Just before the end of its utility, the Greek Government started a last attempt to settle the dispute with the reform of the euro zone.

The euro zone finance ministers did on Tuesday night by telephone to advise on the proposal, the euro rescue fund ESM to tap into for two years, to avoid bankruptcy. In addition, Athens again demanded a debt relief. Whether engage the euro-zone countries it was questionable. For the turbulence of bankruptcy they saw armed themselves. The utility should end at midnight. A repayment of € 1.6 billion to the International Monetary Fund held back the government in Athens.

“Greece remains at the negotiating table”, the office of Prime Minister Alexis Tsipras declared , With the money of the ESM the financial requirements for two years should be covered. The goal is a “viable solution to remain in the euro zone”. Whether therefore also a commitment to the reform requirements of the donors should be connected, was initially unclear. In the Letter to the euro zone Tsipras proposed to extend the utility for a short time and to convert them into a debt restructuring program. Such a bridge financing the Greeks had called several months ago, were so but always failed in the creditors who insist on vigorous structural reforms.

Redeliberations the Eurogroup

Euro group chief Jeroen Dijsselbloem sat on Tuesday: 19.00 clock a conference call of euro ministers to the Greek advising proposal. However, little was evidence that the expiry of the aid program could still be averted. Greece would have to submit a new application. Chancellor Angela Merkel made clear in the Union Group, according to participants that before the Greek reform referendum on Sunday would not advise it. Previously already had the head of the European Commission, Jean-Claude Juncker, advertised to reach an agreement at the last minute and called on the Greeks still agree to the reform requirements, but was rebuffed so.

The Volte from Athens came as a surprise after Tsipras, the referendum on the scale of its Politics had made. He said on Monday evening in a television interview that his government would indeed also respect a “Yes”: “We will not be the ones who carry them out (the reforms).” In this case, he pointed to his resignation: “If the people want a humiliated prime minister, there are a few out there but I will not be..” Polls for the referendum were not known until Tuesday. The government hopes that a “no” vote tailwind for new negotiations on the conditions for further billions of aid from euro zone and IMF.

Juncker had suggested that Tsipras accept the proposals of donors in writing and should begin in the referendum for a ‘yes’. The euro zone finance ministers would then have to approve a transfer to Athens even on Tuesday. He also presented talks on debt relief in prospect. A spokesman for Juncker said that the government in Athens had not moved. A German government official said: “For an extension of the program, it is now too late.” Continued …


EU: Important questions to the new roaming rules – ABC Online

Tuesday , 30.06.2015, 12:25
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SMS sending, mobile Making calls and surf the Internet, all this has become more favorable. And even in other EU countries, because the EU has set caps on roaming charges. Now, the mark-ups should fall

A frantic call to the counter in the head -. And then still on vacation? This should come to an end. The EU wants to abolish the so-called roaming charges for mobile phone calls, Internet surfing and sending SMS in another EU country within two years.

At least for the most part it would then pass the extra costs for consumers.

will be available from June 15, 2017 no roaming serves more

The answer is: Yes largely. Who, for example, has free quotas of telephone minutes, SMS or data, this can be used just like at home, as the EU commission explained then in other EU countries. So-called “roaming permanent” but should be excluded – while users would buy their SIM card for mobile phones in cheaper abroad, but they use at home. In order to prevent such a thing, provider may levy charges for the achievement of certain levels of calls, SMS or data. This should however be well below the current ceilings. What does that mean in detail, the EU Commission to draft.

sinking the charge units before the summer 2017?

In an intermediate step to the roaming surcharges on April 30, 2016 . fall Then may Loud Communication calls in other EU countries cost only 5 cents per minute in addition, when SMS is 2 cents and surfing every megabyte of data may suggest a maximum of 5 penny extra to book. Add to that the tax. Thus, the maximum total price

still is, according to the European Commission significantly below the current price ceilings by more than 19 cents for outgoing calls, 6 cents per SMS and 20 cents per megabyte of data plus VAT. It is also an agreement on net neutrality. What is it?

This means that Internet service providers on an equal footing with their lines send all packets, no matter where they come from or what content they have. There are for this “open Internet” no European rules, only individual EU countries have rules. But the amount of data grows and with it the risk of congestion in the network. Therefore, it was discussed whether not but some Internet users should get priority in special cases.

What has been decided about it?

No one should be allowed to buy his right of way on the internet, such as the European Commission explained. When things get tight, providers may, however, the traffic rules, but just normally regardless of content. In addition, there are ways to combat illegal content such as child pornography or against cyber attacks. So-called special services, such as telemedicine or TV on the Internet should not displace other uses and are only offered if there is sufficient capacity.

Is that all now decided definitively?

Extensively. On the night of Tuesday, negotiators of the European Parliament and the EU member states have agreed. The EU Commission, which had proposed the changes, was sitting at the table. Now both the EU Member States and the Parliament must officially confirm the agreement. Mostly this works without problems. In addition, still need to be worked out some details. For this part, the European Commission in charge.


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Finance: Brussels wants Tsipras bring to relent – ZEIT ONLINE

Varoufakis threatens lawsuit against Grexit – FAZ – Frankfurter Allgemeine Zeitung




Greek Finance Giani Varoufakis threatened due to the exclusion from the euro with a legal action against his country’s EU institutions. “The EU treaties have no provision for an exit from the euro, and we refuse to accept this,” Varoufakis said the British newspaper “Daily Telegraph”. Greece affiliation is not negotiable. The government in Athens let advice currently and drag if necessary a court of the European Court against EU institutions concerned. The government will make use of all their rights, stressed Varoufakis.


On Monday had different leaders Greece made it clear that the planned referendum on the reform requirements on Sunday was a vote on the euro membership. “The question is whether the Greeks want to stay in the euro zone or not -. Or whether they want to take the risk of an exit”


Grexit would not juridically, but by constraints

On the other hand, no one has demonstrated a legal way to remove Greece against his will from the euro. Most scenarios of Grexit amount to a situation in which Greece decides to introduce its own money because it itself has no possibility to provide its banks with fresh money and to pay civil servants.


Given his lack of money, the state pensions, civil servants and soldiers can not can pay. You fall out as demand for additional services, the economy crashes. At the same time Greek government bonds, which have the banks as collateral for their emergency loans, worthless. The emergency loans for Greece banks – the ECB’s rules accordingly – not further extended. To keep at all a money supply in the country running, Greece could issue its own Notwährung in such a situation.


rescue package runs out

Greece is today the last day under the rescue: In the early hours of Wednesday the international aid program for the country runs out. The Greek government has announced yesterday not to pay an overdue repayment rate on Wednesday by 1.54 billion euros to the International Monetary Fund. “This eliminates any future payment by the IMF,” German Finance Minister Wolfgang Schaeuble said on Monday evening in the ARD “focal point”. The IMF in Washington declined to comment on the failure. Immediate consequences the IMF threaten Athens, however, not at first.


Greek Prime Minister Tsipras had yesterday described the evening in the Greek state television, the payment to the IMF will not take place if it is not still give an agreement with international creditors. At the same time he pointed vaguely to a resignation in the event that the Greeks vote in the referendum ‘yes’ to the reform proposals of the international donors. Including Merkel, Juncker and Renzi – – Yesterday some European politicians had tried the Greeks on a “Yes” einzuschwören the reform package of the funders. At the same time they tried to make clear to the Greeks, which means “no” also necessarily an exit from the euro. Angela Merkel assured that they would not be closed further negotiations if Athens after the referendum should ask: “. If someone wants to talk to us, we are always ready to speak”



Schäuble: negotiations start from the beginning

According to the statements of Finance Minister Schäuble would would negotiate but then “from scratch” to start, “because this program that we had, (Tuesday) ends tomorrow night , and also the foundation is then withdrawn “.


More closed on

In Greece banks and stock exchange remain until early next week. For retirees, however, Greece will open by Mittwochbis Friday, 1000 bank branches. Pensioners with no credit or debit card should be possible to come to their remuneration, the Treasury Department said on Tuesday in Athens. The majority of pensions in Greece shall be paid in cash. Banks on the other hand for ordinary citizens remain closed. At the ATM will continue to apply the limit of 60 euros a day.


This article will be updated constantly. Constant updates are also available in our live blog.



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Grexit, Graccident, rescue package What do the Greeks?

The situation between Greece and its lenders is tense. If the Greeks can pay off their debts? Be afraid of the Greek economy before Grexit or wants them out of the out? More

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financial crisis Only 60 euros to Greek ATMs

Closed Banks, queues at ATMs – many Greeks had become the beginning of the week to be patient. The government in Athens has imposed capital controls to restrict the outflow of funds from the country. Banks in Greece will initially remain closed until 6 July. At ATMs you get as a Greek by then only 60 euros a day.

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debt crisis Tsipras linked his fate to the referendum

In the event that the Greeks vote for the austerity of Europeans, Prime Minister Tsipras has hinted he will retire. Finance Varoufakis wants to legally defend themselves against a euro exit. Tens of thousands demonstrate against the creditor More

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the Greeks in their referendum ‘No’, Greece must abandon the euro, all major EU politicians say. Giannis Varoufakis sees it differently: Greek membership is non-negotiable.

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Cheap development: unemployment drops to 2.711 billion – ABC Online

Updated on Tuesday, 06.30.2015, 10:09
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The number of unemployed people in Germany dropped in June by 51,000 to 2.711 million. These are 122,000 unemployed less than a year ago, as the Federal Employment Agency announced in Nuremberg on Tuesday. The unemployment rate fell by 0.1 points to 6.2 percent.

After seasonal adjustment decreased the number of unemployed in Germany in June 1000 to 2.786 million. Thus, the number of unemployed in Germany fell to the lowest June figure 1991 onwards.

In West Germany, adjusted for seasonal influences number of unemployed rose by 2,000, while they fell by 3,000 in eastern Germany.

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The head of the Federal Labour Agency, Frank-Jürgen Weise, said: “The labor market has developed in the June low. At the end of the spring revival, unemployment continues to fall. “

ratio fell from May to June at 6.2 percent

From May to June had unemployment, according to the Federal Employment Agency (BA) decreased by 51,000; the unemployment rate fell by 0.1 points to 6.2 percent. Compared to last year 122,000 unemployed were less registered in official statistics

The good development is also reflected in the number of vacancies resist. In June 572,000 job offers were registered with the employment agencies, 78,000 more than in front of a year. “Especially sought are currently workers in the occupational fields of metal production, sale, transport and logistics,” said the BA. “This is followed by occupations in mechatronics, energy and electrical engineering, mechanical engineering and automotive engineering and health professionals.”

Employment rose on 42.8 million

Also, employment and social security contributions laid seasonally adjusted further , So the work according to the latest data of May increased by 7000 to 42.8 million – compared to last year this is an increase of 206,000. The employment increased from March to April at 31,000 on. The number of regular points thus totaled 30.58 million over the previous year to 521,000 in the black.

After seasonal adjustment decreased the number of unemployed in Germany in June also, albeit only by 1000 Affected at 2.786 million. The adjusted for seasonal influences number of unemployed increased in West Germany around 2000, while they declined by 3,000 in eastern Germany.

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Tsipras wants to withdraw at referendum defeat – Reuters Germany


– by Michele Kambas and Lefteris Papadimas and Renee Maltezou


Athens (Reuters) – Greek Prime Minister Alexis Tsipras raised before the referendum on the controversial austerity and reform requirements of lenders use


In a TV interview on Monday night, he linked his political future to the outcome of the referendum. The left-wing government in Athens, which has clearly turned against the claims of creditors will, although respecting a “yes” voters. “But we will not be the ones who carry them out,” said Tsipras. “If the Greek people want a humiliated prime minister, there are a few out there. But I will not be there.”


In order for the debt drama about Greece could face the next turnaround. Specifically, the population is on Sunday to decide whether to accept the demands of the donors or not. Opinion polls are not currently available. Tsipras was elected for his promise to end the austerity plan and is therefore in many voters, despite the threat of sovereign default is still popular. Tens of thousands demonstrated on Monday for his government. He gets in the referendum not the majority, there should be new elections.


European Commission President Jean-Claude Juncker said that a “no” would indicate that Greece would leave the euro, which should be avoided. “I’m going to the Greeks, who I love very much, saying:. You have to commit suicide not just because their fear of death have”





Sources at the EU and the Greek Government was reported, Juncker did Tsipras made a last-minute bid to avert the state bankruptcy. Tsipras was to accept the latest proposals of donors in writing and be used for a “yes” before the referendum. The letter must also be received, so that the finance ministers of the euro zone could still hold a special meeting. On Tuesday evening, the current aid program expires. Without additional funds Greece can not meet its payment obligations.


Tsipras had the proposals and schedule of creditors, however, on several occasions as “blackmail” rejected and snubbed the financiers with the referendum. A representative of the Greek government told Reuters, the Juncker-thrust had been taken with interest. Tsipras will on Sunday but vote “No”. The government had previously stated, the more such a ‘no’ failures, the better will its position in subsequent negotiations. He argues obligations such as pension cuts would be antisocial and would anyway bad economy intensify. By contrast, the creditors call structural, to make the country more competitive in the long term. Continued …