AND WE'RE OFF - EWG finally underway !
SCHAEUBLE: KNOW FROM TREATIES THAT DEBT RELIEF IS NOT POSSIBLE
He would know!
Yannis Palaiologos retweeted
Remains biggest obstacle: differences between creditors (IMF & EZ) and between MS too
Albert Broomhead retweeted
1) Decision must be made this weekend 2) Proposals are nowhere near good enough 3) we don’t trust the Greeks anyway. 1+2+3 = #Grexit
SCHAEUBLE SAYS SUGGESTIONS FAR FROM BEING SUFFICIENT FOR A THIRD BAILOUT
German FinMin Schäuble: Greek Financing Gaps Now Go Beyond Anything Talked About in Past. (DJ)
Guindos: Greek proposal just a list of prior actions. New Memorandum will have to be prepared if negotiations go ahead.
The Spain Report retweeted
Guindos: "We have to listen to the Troika" "[Greek] Credibility is very low" "I hope Grexit will not take pace"
Gramegna (Luxembourg): Obvious that
#Greece needs some help with debt. When we're going to agree on that is another issue.
Geoffrey Smith retweeted
#Irish finance minster hits the nail on the head. #Greece bailout request silent on what the banks need to reopen.
Mramor (Slv): Debt reprofiling unavoidable. No use in postponing that discussion and not putting figures on the table
Dijsselbloem says it will be "quite a difficult meeting".
Quite a bit of criticism, lack of trust, concerns on implementation, ownership,
#Eurogroup President says ahead of the meeting. #Greece #ec
The infernal triangle is still there: 1. No haircut. 2. No deal without the IMF. 3. IMF insists on debt restructuring. Vvv hard to reconcile
Italian FinMin Padoan: "We're not here to finalise negotiations tonight. We're here to assess whether negotiations can start". Amen.
Sapin: There's no debt taboo, but we don't want nominal reduction. It's red line for many member states.
"There is no taboo about the debt", though "we will not discuss nominal haircut" (Sapin).
Sapin: Greek PM has said important reforms can be voted by parliament as of next week. That's good way to rebuild trust. #Greece
"I heard @atsipras say reforms will be voted through parliament next week", important in order to restore trust (Sapin)
None of them will say it, but they obviously won't trust this govt to implement until it formally includes ND and/or Potami. and/or PASOK
Dombrovskis: Willingness from Greek side to reach agreement, but still many issues and concerns to be addressed.
No doorstep comments from Belgian FinMin Van Overtveldt, who's just arrived.
Troika Says Greek Proposal Not Enough To Meet Targets, Serves As "Basis For Negotiations" http://www.zerohedge.com/news/2015-07-11/troika-says-greek-proposal-not-enough-meet-targets-serves-basis-negotiations …
IMF's Lagarde stated on Sat upon her arrival to
#Eurogroup meeting that she hopes that there will be progress on Greece's issue today. (ANA)
New Greek Bailout Terms May Be More Austere Than Before: Rajoy
Dutch Eric Wiebes: Greek plan "missing specificity" "weaker than it should be in certain areas" and raises severe doubts about implementing
Potami leader Theodorakis calls for national unity government #Greece
Austria's Schelling: The concern (with Greek programs) has always been about implementation #Greece #Eurogroup
Duncan Weldon retweeted
French FinMin Sapin to meet #Greece's counterpart Tsakalotos before #Eurogroup, BBG reports citing Figaro.
Paul Mason retweeted
Dombrovskis: Today we have to discuss giving mandate to institutions to start negotiations about ESM programme. #Greece
Estonia's FinMin Sester says several questions still unresolved. (BBG)
~@pierremoscovici: Important day for #eurozone and #Europe. Greek government has made important gestures. #Eurogroup #Greece
Useful table showing Greek concessions to creditors + where proposals still deemed to fall short http://si.wsj.net/public/resources/images/EI-CN930_EUGREE_9U_20150710075116.jpg …”
After vote last night, Tsipras essentially has 3 choices: Reshuffle, new coalition or snap elections https://shar.es/1qLZJ7
Outcome of #Eurogroup mtng on #Greece wll depend on 'discussion btwn EZ Mins'; Mr Schäuble will not try to preoccupy outcome ~German offcial
#Euro zone FinMins hv serious doubts abt #Greece's request, deal to start talks is far frm certain, sources close to the talks say ~@Reuters
*MERKEL FOR, SCHAEUBLE AGAINST NEW TALKS WITH GREECE: BILD
Syriza dissent worsens, 15 more MPs say they won't back austerity (despite supporting Tsipras last night)
Last night vote was the product of him leading
#Greece's strategy for 5 months, he was not there even to support Tsipras #notawesome #Greece
Zoe had the reputation of the ballsiest in SYRIZA, at a moment that required balls she abstained
50-50 chance of Greek bailout deal, sources say ahead of #Eurogroup. (dpa)
BOOM: Schäuble said to think the Greek proposals are inadequate and opposes any further talks
Fabrizio Goria retweeted
EU source: Will be tough meeting. Much scepticism among member states. Mistrust & lack of confidence in Greeks after so many wasted months
Oh, give me a break! Creditors Say Greek Plan Not Enough to Meet Budget Target: FAS
Troika don't think Greek fiscal measures will hit budget surplus targets. Capital controls can do that to an economy http://www.telegraph.co.uk/finance/economics/11733260/Greece-news-live-Eurozone-finance-ministers-prepare-to-gather-to-decide-Greeces-fate.html …
Romaric Godin retweeted
Thanasis Koukakis retweeted
Superb article... http://www.latimes.com/world/europe/la-fg-greece-selling-austerity-plan-20150710-story.html#page=1 … @dodywrites @cjwilliamslat
So overnight the Greek bailout offer passed 250 Yes, 32 No. But from 162 govt MPs, 8 abstentions, 7 absent, 2 no. More later
#Greece govt suffers wider losses than expected - Tough days ahead for Tsipras - Almost impossible to pass bailout laws under this coalition
Eleni Varvitsiotis retweeted
Chances of deal still 50-50 because hardliners like Germany have to be convinced, EU sources say
GERMANY'S MICHELBACH REJECTS `PONZI SCHEME' DEAL FOR GREECE
STUBB SAYS GREEK PLAN ANALYSIS PROBABLY NOT READY UNTIL SAT.
Peter Spiegel retweeted
'If you start a struggle, it’s important to know when to stop' @SpiegelPeter on Alexis Tsipras http://www.ft.com/cms/s/0/74c2def0-262d-11e5-9c4e-a775d2b173ca.html#axzz3fSvGP7qb …
Efthimia Efthimiou retweeted