Friday, February 6, 2015

Greece gets ultimatum from EuroGroup ( Feb 6 , 2015 ) - Either Greece bows down and signs the Troika Bailout Agreement deal in ten days ( Feb 16th ) or GREXIT ! The knife of the Troika is now on display for the audience to see - at the end of Act 1........


Update - Tsipras speech of 2/8/15 Very important !



Tsipras' speech in English via








In response to the negative feedback  from EuroGroup and Germany against the Greek Government reform efforts and agenda largely directed toward resolving an agreed unsustainable and ultimately  unpayable debt owed to the  officials creditors ( ESFS  / IMF and ECB )








Key dates in the Greek calendar





 we saw protests in Greece on Thursday.









"We don't yield, we have no fear"! Anti-austerity protest & Support for government








And Greece played the Russia card..........








and agreed on phone to boost cooperation in economy & energy, tourism, culture & transport sectors reports



yesterday invited to event in Moscow in May to mark the victory over Nazism:






The Troika response came Friday......




First  salvo came from S&P.....






Standard & Poor's downgrades 's sovereign credit rating from B to B-, negative outlook.




Later Moody's chimes in.......







But the Cat's paw move came from EuroGroup itself - announcing the ten day deadline !














GREECE MUST APPLY FOR BAILOUT EXTENSION ON FEB 16 AT THE LATEST TO KEEP EURO ZONE FINANCIAL BACKING -DIJSSELBLOEM








This followed ECB denial of Greece Government request to issue more T Bills.....




's GC rejects govt's request for extra €4.5bn T-bills issuance. /via | Fait accompli...




Which followed the ECB decision to cutoff Greek Banks ......





's Liikanen defends decision to cut off funding to Greek banks




Greece present financial , political and strategic  situation ..... news and views


2/8/15 Tweets....




gov't not seeking a 'bridge loan' from the Eurozone, to ask for removal of €15bn ceiling on T-bills issuance ~reports |




govt's 'moratorium' proposal to the Eurogroup: Both parties will refrain from unilateral actions, Greek gov't receives a bridge loan






PM Tsipras to give 1st policy speech in parliament 1700 GMT. Acc to govt sources he'll announce 'moratorium' in reversal of reforms.










fin needs over next 5 yrs may amount to €30~35bn. W primary surpls @ 1~1.5% &no privatisations fin needs wd rise to €60bn ~Unicredit


'



Can Make a Deal with Europe? Part 1: Why and When a Deal Must Be Struck' ~Jacob Funk Kirkegaard ~







Greek govt refusing to take anymore IMF tranches is illogical. How r they going to repay IMF's €8.7b loan &interst for 2015? Markets r closd





Ηm... RT Lagarde will be at next week's eurogroup





to support at extra Eurogroup meeting on Wednesday ~FinMin Georgiades |






Belgian Fin Min:" would cause chaos in Greece but we can control the conseq for the rest of the "



Greek banks can borrow max €33B from cenbank, banking system could withstand another deposit outflow wave "but not a very big one"-JP Morgan





poll: 72% support the Greek gov't in a confrontation with the Eurozone & the IMF, 22.5% say its wrong. /via





[In Eurogroup's Working Group mtng] "it was against all others, basically one versus 18" ~Eurogroup official to Reuters







Isolated rejects bailout extension /via






RT : *`WE DON'T DO' BRIDGE LOANS, DIJSSELBLOEM SAYS ABOUT








Greece Still Defiant After ECB Mugging: Some brief updates, with more on Monday.








"If the ECB triggers a bank run in Greece, government would likely resort to capital controls, seek bilateral funding outside euro system."







Nonsense... "The move I confidently predict, will precipitate not just a run on Greek banks..."



The 4th February late-night decision by the European Central Bank to reject Greek bank collateral for monetary policy operations will, I confidently predict, precipitate not just a run on Greek banks; not just greater price instability across the Eurozone – but ultimately, the collapse of the fantastic machinery that is the ‘self-regulating’ economy of the Eurozone.







Please Share! My latest 4 the "Stop squeezing . We can’t afford another wrong turn in "