Wednesday, July 15, 2015

Special Greece Update ( July 15 , 2015 ) - State Of Play- Ever Changing ( Greece domestic politics , International And Troika Politics , IMF In Focus , Bridge Loan Financing Items - More Loans For Greece To repay Obligations to The IMF & ECB , Protests Return to Athens & Parliament Against Deal To Re-Open Talks , US Role Coming To Light Slowly , Vision Of A United Europe - Just A Proverbial Mirage ? )


Greece....



Evening Wrap....Much more at Tweet Feed !





Govt sources said yestr the will not just be 4 ministers who disagreed with deal, but wider, for the better functioning of govt












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Greek agreement with creditors passed easily into law with opposition support with 229 'yes' votes, 64 'no' and 6 abstentions.




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Sorry - it's 32 'no', 6 'present' and from SYRIZA.





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TSIPRAS: I AM NOT RESIGNING, THIS GOV IS NOT RESIGNING - MNI






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Riot police clash w protesters hurling firebombs as MPs debate austerity. Scenes didn't expect to see under Syriza gov








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Latest protests begin with trade union march, joining other groups in square





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Majority of (109 of 201) central committee rejects "agreement" cc







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*ECB SAID TO PLAN THURSDAY DECISION ON GREEK EMERGENCY BANK AID





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Apparently Tsipras said that if fewer than 120 Mps from his government vote for the bailout he will resign






Some uncertainties re Greece: Bridge loan, Finnish coalition and Dutch governing VVD still to decide whether to support Greek deal tomorrow




If, as looks likely, EFSM used for Greek bridge loan, UK will indeed be involved in the Greek bailout - albeit w/ protection against default









Morning Report....


















And the band on the Titanic plays on.







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enters another high-noon day & it's perhaps worth reminding the vote today it is just preliminary to the real negotiations.









confidential proposal for bridge financing : 7 bn from for 3 months in one instalment












ΕFMS not easy option,member states expressed concerns,working on how 2 collateralize loan &provide guarrantee 4 he state says












*DOMBROVSKIS: NEGOTIATIONS ARE ON-GOING - ACCORD ON EFSM FINANCING NOT REACHED YET











DOMBROVSKIS SAYS EU COULD USE SMP, ANFA PROFITS TO GIVE NON-EU STATES GUARANTEES, OTHER OPTIONS OPEN










Finland has also not yet agreed to use EFSM for Greek bridge financing












Commissioner dombrovskis: use of EFSM not easy option, no obvious other options.











IMF has made their opinion on debt sustainability public on their website









EU's Dombrovskis: EFSM to provide bridge financing to . Protection sought for Non-Euro states in EFSM aid. (BBG)







Commission will do its best to "protect" non-euro members after using €7bn in EFSM loans for Greece







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Dombrovskis: Greek economy is back in recession, banking system on the brink of collapse and state building in arrears.









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Dragasakis *thanks* Washington for help with deal - a clear sign that the mob have missed the point.








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EU’s Dombrovskis Says There Is No Prospect For Bilateral Aid For Greece - Greece Faces Urgent Financial Needs











Alt FInanceMin Valavani resigns via open letter to PM Tsipras.








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ECB’s mandate: "full employment, social progress and SOLIDARITY amongst member states.”By pulling plug on ELA ECB caused this crisis..








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Kafka and Tristan Tzara.







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is now inevitable…as German parliament will not accept non-IMF involvement. What an incredible mess…made by world ‘leaders"







Protester outside Greek parliament says it with a symbol.










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The colossal failure in will haunt it forever… No wonder it wants out now… via








Commission vs. IMF , spot the difference.




















EU-wide EFSM fund can be deployed for#Greece with a qualified majority vote - despite opposite of non EZ countries:








Commission lays out its EFSM plans here -







Cyprus & suffered largest population declines in EU during 2014 as people leaving in search of jobs (via BBG)









MT "My pension is 201 €. is hungry. We can no longer sleep"  

















New Kapa Institute/To Vima Poll of Greeks:
- 51.5% support bailout deal - 70.1% say parliament should approve it:








Majority in Dutch Parliament wants Dutch govt to publish IMF report which reveals that Greece needs even more money















After "temporary " put on table, I doubt EG has any credibility left to be undermined..

















Everyone's nightmare; forced fiscal union on horizon - no going back













ECB's Coene - may have been better and 'less painful' option “Because of depreciation of currency" :







Again: Even my cat knows it's not viable. It's unfeasible, it's pie-in-the-sky and it exists only on paper.






















Bridge finance row










PM posts full interview to state TV
















Head of Syriza's Left Platform Lafazanis says won't vote for 3rd memorandum, says others shd do same. Says Greece has alternative solutions








Spain to put Greek deal to parliament vote







Another German Bund auction failed. sold €4.1bn at yield 0.88% highest since Oct. Bids €4.5 bn < €5bn offer.