Catharsis Ours: Greece Special Saturday Report ( July 11 , 2015 ) - Updates (Trust is big issue - will Troika demand de facto national unity Gov't to ensure imprementation ? Initial take by Fin Mins - Greece proposals insufficient , just basis for Talks Saturday ! Friday saw Greece's Parliament approve Thursday's Controversial Bailout Proposals submitted to the Troika , which in turn gave the green light for Saturday's EWG Talks .....State of Play at present - Greece political situation after the events of Thursday and Friday , initial reactions / perspectives and viewpoints of various EWG Fin Mins ahead of EWG - France seemingly remains Greece's only visible and helpful friend at EWG , additional news & views of the day ) .

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AND WE'RE OFF - EWG finally underway !

#greece kick-off 

Alexander Stubb @alexstubb

#Eurogroup in session.

‏@zerohedge

SCHAEUBLE: KNOW FROM TREATIES THAT DEBT RELIEF IS NOT POSSIBLE

The Greek Analyst retweeted

‏@charlesforelle

He would know! 

zerohedge @zerohedge

SCHAEUBLE SAYS HE EXPECTS "EXTRAORDINARILY DIFFICULT TALKS"

Yannis Palaiologos retweeted

‏@AlbertoNardelli

Remains biggest obstacle: differences between creditors (IMF & EZ) and between MS too 

Peter Kažimír @KazimirPeter

Debt Sustainability Analysis on #Greece is going to be a huge problem #eurozone #ECB #IMF

‏@KazimirPeter

Debt Sustainability Analysis on #Greece is going to be a huge problem #eurozone #ECB #IMF

Albert Broomhead retweeted

‏@Frances_Coppola

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

‏@minefornothing

SCHAEUBLE SAYS SUGGESTIONS FAR FROM BEING SUFFICIENT FOR A THIRD BAILOUT

‏@Schuldensuehner

German FinMin Schäuble: Greek Financing Gaps Now Go Beyond Anything Talked About in Past. (DJ)

‏@OpenEurope

Guindos: Greek proposal just a list of prior actions. New Memorandum will have to be prepared if negotiations go ahead. #Greece

The Spain Report retweeted

‏@miquelroig

Guindos:
"We have to listen to the Troika" 
"[Greek] Credibility is very low"
"I hope Grexit will not take pace"

‏@OpenEurope

Gramegna (Luxembourg): Obvious that #Greece needs some help with debt. When we're going to agree on that is another issue.

‏@nickkounis

#Eurogroup seem to be saying to Tsipras the problem is not your measures its you #Greece

Geoffrey Smith retweeted

‏@markthompsoncnn

#Irish finance minster hits the nail on the head. #Greece bailout request silent on what the banks need to reopen.

‏@Geoffreytsmith

Mramor (Slv): Debt reprofiling unavoidable. No use in postponing that discussion and not putting figures on the table

‏@OpenEurope

Dijsselbloem says it will be "quite a difficult meeting". #Greece

‏@ManosGiakoumis

Quite a bit of criticism, lack of trust, concerns on implementation, ownership, #Eurogroup President says ahead of the meeting. #Greece #ec

‏@Geoffreytsmith

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

‏@LondonerVince

Italian FinMin Padoan: "We're not here to finalise negotiations tonight. We're here to assess whether negotiations can start". Amen. #Greece

‏@Schuldensuehner

#Italy's FinMin Padoan says it's not striking a deal tonight. (BBG)

‏@OpenEurope

Sapin: There's no debt taboo, but we don't want nominal reduction. It's red line for many member states. #Greece

‏@yanpal7

"There is no taboo about the debt", though "we will not discuss nominal haircut" (Sapin).

‏@OpenEurope

Sapin: Greek PM has said important reforms can be voted by parliament as of next week. That's good way to rebuild trust. #Greece

‏@yanpal7

"I heard @atsipras say reforms will be voted through parliament next week", important in order to restore trust (Sapin)

‏@Geoffreytsmith

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

‏@OpenEurope

Dombrovskis: Willingness from Greek side to reach agreement, but still many issues and concerns to be addressed. #Greece

‏@OpenEurope

No doorstep comments from Belgian FinMin Van Overtveldt, who's just arrived. #Greece

‏@nasoskook

#Eurogroup will decide the context of a 3 years reform program. Monitoring and conditionality's  main issues. Tsakalotos under pressure.

‏@zerohedge

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 …

‏@Schuldensuehner

#Cyprus' Georgiades Says #Greece Must Remain in Core of European Union. (BBG)

‏@traynorbrussels

#greece #eurogroup dutch delegate wiebes says serious reservations about greek commitment

‏@Schuldensuehner

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)

‏@zerohedge

New Greek Bailout Terms May Be More Austere Than Before: Rajoy

‏@MehreenKhn

Dutch Eric Wiebes: Greek plan "missing specificity"  "weaker than it should be in certain areas" and raises severe doubts about implementing

‏@dgatopoulos

Potami leader Theodorakis calls for national unity government 

#Greece

EFSYN @EFSYNTAKTON

Συνέντευξη στην «Εφ.Συν.»
Σταύρος Θεοδωράκης: «Πάμε να το κάνουμε»
https://www.efsyn.gr/arthro/pame-na-kanoyme-0 …

‏@Schuldensuehner

LOL! #Austria's FinMin Schelling Says #Greece Should Guarantee Reforms to Be Implemented. (BBG)

‏@dgatopoulos

Austria's Schelling: The concern (with Greek programs) has always been about implementation

#Greece #Eurogroup 

‏@dgatopoulos

Netherlands' Wiebes: More steps needed to rebuild trust with Athens 

#Greece #Eurogroup 

Duncan Weldon retweeted

‏@Schuldensuehner

French FinMin Sapin to meet #Greece's counterpart Tsakalotos before #Eurogroup, BBG reports citing Figaro.

Paul Mason retweeted

‏@OpenEurope

Dombrovskis: Today we have to discuss giving mandate to institutions to start negotiations about ESM programme. #Greece

The Greek Analyst retweeted

‏@Schuldensuehner

Estonia's FinMin Sester says several questions still unresolved. (BBG)

The Greek Analyst retweeted

‏@YanniKouts

~@pierremoscovici: Important day for #eurozone and #Europe. Greek government has made important gestures. #Eurogroup #Greece

‏@NikiKitsantonis

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 …”

‏@NickMalkoutzis

After vote last night, Tsipras essentially has 3 choices: Reshuffle, new coalition or snap elections https://shar.es/1qLZJ7  #Greece #euro

The Greek Analyst retweeted

‏@YanniKouts

Outcome of #Eurogroup mtng on #Greece wll depend on 'discussion btwn EZ Mins'; Mr Schäuble will not try to preoccupy outcome ~German offcial

The Greek Analyst retweeted

‏@YanniKouts

#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

Mehreen retweeted

‏@MichelReijns

Doorstep @J_Dijsselbloem additional #Eurogroup between 2pm and 3pm #Greece

‏@StKallinos

*MERKEL FOR, SCHAEUBLE AGAINST NEW TALKS WITH GREECE: BILD

‏@dgatopoulos

Syriza dissent worsens, 15 more MPs say they won't back austerity (despite supporting Tsipras last night) 

#Greece http://goo.gl/VZDw0x 

‏@YiannisMouzakis

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

‏@YiannisMouzakis

Zoe had the reputation of the ballsiest in SYRIZA, at a moment that required balls she abstained #Greece

Stavros Kallinos retweeted

‏@Schuldensuehner

50-50 chance of Greek bailout deal, sources say ahead of #Eurogroup. (dpa)

‏@minefornothing

BOOM: Schäuble said to think the Greek proposals are inadequate and opposes any further talks

Fabrizio Goria retweeted

‏@EdConwaySky

EU source: Will be tough meeting. Much scepticism among member states. Mistrust & lack of confidence in Greeks after so many wasted months

Stavros Kallinos retweeted

‏@russian_market

Oh, give me a break!

Creditors Say Greek Plan Not Enough to Meet Budget Target: FAS 

‏@MehreenKhn

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 …

‏@ManosGiakoumis

#Eurogroup Working Group meeting underway ahead of Eurogroup due at 3pm (CET). #Greece 3rd aid package seen at €78-84 bln (via @amna_news)

Romaric Godin retweeted

‏@ylenews

Ahead of the #Eurogroup on #Greece, a YouGov poll illustrates how harshly the Finnish public views debt relief http://yle.fi/uutiset/8147711

Thanasis Koukakis retweeted

‏@mignatiou

Superb article...
http://www.latimes.com/world/europe/la-fg-greece-selling-austerity-plan-20150710-story.html#page=1 … @dodywrites @cjwilliamslat

‏@paulmasonnews

So overnight the Greek bailout offer passed 250 Yes, 32 No. But from 162 govt MPs, 8 abstentions, 7 absent, 2 no. More later

‏@Elbarbie

#Greece will need about 80-85 bln for its new rescue package acc to estimations http://www.kathimerini.gr/823107 

MineForNothing retweeted

‏@YanniKouts

#Greece govt suffers wider losses than expected
- Tough days ahead for Tsipras
- Almost impossible to pass bailout laws under this coalition

Eleni Varvitsiotis retweeted

‏@dannyctkemp

Chances of deal still 50-50 because hardliners like Germany have to be convinced, EU sources say

JohannesBorgen retweeted

‏@minefornothing

GERMANY'S MICHELBACH REJECTS `PONZI SCHEME' DEAL FOR GREECE

JohannesBorgen retweeted

‏@minefornothing

STUBB SAYS GREEK PLAN ANALYSIS PROBABLY NOT READY UNTIL SAT.

Peter Spiegel retweeted

‏@johnthornhillft

'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

‏@mathieuvonrohr

Selling it 

Catharsis Ours

Saturday, July 11, 2015

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