Catharsis Ours

Still some differences. Tsipras firm in the Fund details and the withdrawal of some measures they say. Grexit threat totally out of the doc

fred walton retweeted

Details of the Greek new Fund still very open. May be in Luxembourg may be not. "Up to 50bln", not "50bln" per se.

Talks status - progress toward a deal ?  

Ian Traynor @traynorbrussels

#greece #euco €50bn lux-parked assets dead. no chance of 50bn, maybe not lux, back to athens. better lingo for tsipras on debt relief

ECB update - Pablo Rodriquez.... 

Pablo Rodríguez @Suanzes

According to 2 different sources, ECB is expected to take good note of the good will and clear progress and act in consequence tomorrow.

Honorable compromises  aka full surrender .... H/T Pablo Rodriquez -  on site !  

fer @fermdr_

@Suanzes si es verdad, un pueblo llevado al limite puede ser igual de peligroso que un Gobierno sin control.

"Greece gave up and accepted all major issues" we are told. Including no debt haircuts and IMF involvement.

They might as well have sent these guys.....

‏@wikileaks

Full Eurogroup document on #Greece, including “time-out”, total needed & reform demands h/t @EdConwaySky 

‏@LondonerVince

#Greece basically being given 3 days to pass legislation on pension reform, VAT and other stuff. This only to START talks over 3rd bailout.

‏@LondonerVince

Goes without saying that only some sort of national unity coalition could push these laws through Greek parliament in three days. #Greece

The Greek "Choice": Hand Over Sovereignty Or Take Five Year Euro "Time Out" http://www.zerohedge.com/news/2015-07-12/greek-choice-hand-over-sovereignty-germany-or-take-five-year-euro-time-out …

Whoa !!!!!!! Going the wrong way here !  

zerohedge @zerohedge

Greek Debt-to-GDP after Bailout #3 (assuming it takes place): 220%

EUR Indicated 100 Pips Lower After Tsipras "Mental Waterboarding" http://www.zerohedge.com/news/2015-07-12/eur-indicated-100-pips-lower-after-tsipras-mental-waterboarding …

fred walton retweeted

‏@NickMalkoutzis

@edwardnh @TheStalwart @GreekAnalyst I don't think a unity or technocratic gov't could sign up to this, let alone SYRIZA

fred walton retweeted

‏@Frances_Coppola

If Greece agrees to these demands, it can no longer really be regarded as a sovereign state. http://www.theguardian.com/business/live/2015/jul/12/greek-debt-crisis-eu-leaders-meeting-cancelled-no-deal-live …

fred walton retweeted

‏@g_mastropavlos

Parts of the Eurogroup draft submitted to #EuroSummit have leaked 

fred walton retweeted

‏@JarnoHa

"Measures required from #Greece go much, much further than what Greek people rejected in referendum", says @alexstubb #Eurogroup

Bad deal getting worse ... proposal for takeover of Greece assets outlined by Schulz... 

Alex Andreou @sturdyAlex

Schulz outlining proposal for new body in charge of Greek state assets (which all denied was a thing yesterday). It's a hostile takeover.

Debt haircut  out ,  re-profiling poss -  but only after full implementation of all possible measures in new M.O.U . 

Pablo Rodríguez @Suanzes

The EG draft on the Greek debt: haircuts cannot be undertaken 

Daphne Papadopoulou retweeted

‏@eucopresident

The #EuroSummit on #Greece has just started. 

‏@NikiKitsantonis

.@tsipras_eu tells US Treasury Sec Lew by phone deal can be reached tonite if all sides want. Must be viable & respect what Greeks been thru

Renzi: We're very close [to a deal]. Distances have been narrowing. #Greece

Yannis Palaiologos retweeted

‏@ElenaBec

#Dijsselbloem: We've come a long way, but some big issues remain. Will now inform leaders for #EuroSummit 
#Greece

‏@MNIEurozone

Finnish Finmin: Good proposal on the table. Far reaching conditionality. All conditions must be met in order to start ESM negotiations.

‏@IrateGreek

Why not by yesterday?  

*Russian Market @russian_market

STUBB SAYS GREEK LAWS MUST BE PUSHED THROUGH BY JULY 15

Open Europe retweeted

‏@alexstubb

#Eurogroup over and out. Handover to #Eurosummit. Progress made.

‏@alfonslopeztena

Tsipras announces that Greek banks closure and withdrawal blocks will last at least two months, regardless of any would-be EU agreement

Merkel: We have not received a unanimous notification from Eurgroup, this is not surprising given luck of trust which is crucial

‏@EfiEfthimiou

#Greece  

Nina Schick @NinaDSchick

Merkel: the most important currency has gone missing. And that's Trust. There will be no agreement at any cost. #Greece #Grexit

Fabrizio Goria retweeted

‏@mathieuvonrohr

Hollande: There is no Grexit on time. It's either Grexit or no Grexit.

‏@g_mastropavlos

EU Official: #Eurogroup drafting NEW version of conditions for #Greece to start talks on ESM assistance but doesn't = DEAL ~ @tarapalmeri

Rutte: NL only considers opening negot for ESM if Greece prepared to take measures + to  allow verification about implementation of measures

Rutte responding to question of bridge loan: "We're only at the beginning of process, to check whether euro states even agree to negot ESM"

Pieter Cleppe retweeted

‏@karat32

DPA: No emergency procedure in #ESM. Any country can veto. #OXI 

‏@keeptalkingGR

Eurogroup draft demands from Greece’s govt what toppled Greece’s previous govt http://goo.gl/fb/UKKsYL 

Zoe Keller retweeted

‏@BrunoBrussels

Germany's conditions for Greece staying in euro - become a protectorate 

Bruno Waterfield retweeted

‏@ObsoleteDogma

Greece offered an almost unconditional surrender, but Germany might want a Carthaginian peace http://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/12/germany-doesnt-want-to-save-greece-it-seems-to-want-to-humiliate-greece/ … 

Greek PM Tsipras: I'm here for an honest compromise. We can reach agreement tonight if all parties want it. #Greece

‏@edwardnh

Germany not isolated on its #grexit position. More in favour than against on this vote count 

Patrick Chovanec @prchovanec

Who's cool with a #Grexit, and who isn't: 

I am told: 

- Some improvements
- No improvements at all
- Deal is near & far
- Inertia leads to Grexit
- Temporary Grexit on the statement

‏@edwardnh

It looks like 2 options are getting best bid: 1. Wednesday Greek reform vote + bridge financing 2. Temporary Grexit and devaluation #Greece

‏@macrocredit

BREAKING - EUROGROUP DRAFT INCLUDES POSSIBILITY OF TEMPORARY GREECE EURO EXIT --WSJ #GreekCrisis

‏@nickkounis

Partial draft #Eurogroup statement - Reuters http://mobile.reuters.com/article/idUSKCN0PM0EP20150712

‏@edwardnh

Would be remarkable to see a govt full of leftist radicals engaged in market liberalization of this magnitude 

Duncan Robinson @duncanrobinson

Eurogroup demands Greece liberalize "Sunday trade, sales periods, pharmaceutical products, pharmacy ownership, milk, bakeries"

Paul Mason retweeted

‏@AlbertoNardelli

@paulmasonnews Another key line is eurogroup wants full IMF involvement - IMF said won't take any deal to board without debt restructuring

‏@keeptalkingGR

Schaeuble exposed: Full text of 5-year Grexit-plan. FinMin under fire in Germany http://goo.gl/fb/tCrC3G 

Third Bailout tab - now 90BN - just how is Greece supposed to raise 16bn though ? Assets sales ?  

Pieter Cleppe @pietercleppe

Troika thinks Greece needs 25bn to recap banks, 53bn to pay debt, 12bn for admin.Thinks Greece can raise 16bn of 90bn http://m.faz.net/aktuell/politik/ausland/europa/griechenlands-schuldenkrise-merkels-schwerste-stunde-13697870.html?printPagedArticle=true …

fred walton retweeted

‏@g_mastropavlos

The Merkel - Schäuble psycho-drama is destroying the Euro project. More on the drama affair ↦  http://www.spiegel.de/international/europe/finance-minister-schaeuble-and-merkel-tussle-over-grexit-a-1038590.html … 

A very bitter truth - good stream of thoughts.... 

Theodora Oikonomides @IrateGreek

A few bitter truths: 1. The Greek govt was woefully unprepared for any sort of negotiations since they didn’t have a plan B. #GreeceCrisis

fred walton retweeted

‏@advdesk

*FINLAND'S SIPILA: GREEK PROPOSAL NOT AT ALL SUFFICIENT TO START TALKS #Greece #grexit

fred walton retweeted

‏@NickMalkoutzis

New Democracy leader Meimarakis & PASOK's Gennimata in Brussels, Potami head Theodorakis phoning EU officials, reports @geoterzis #Greece

Nice overview leading into today !  

Yves Smith @yvessmith

A Grexit Looks Almost Inescapable: Despite my generally dour outlook, I never thought we'd arrive at the insan... http://bit.ly/1HmYgnB 

Eurogroup has now begun !  

Elena Becatoros @ElenaBec

#Eurogroup on #Greece starts, says Finland's @alexstubb https://twitter.com/alexstubb/status/620164227077132288 …

fred walton retweeted

Lux Fin Min Gramenga: very difficult junction because faced with many diff probs: debt sustainability, financial needs & short term issues

fred walton retweeted

Slovakian Fin Min Kazimir asked what he expects today "Nothing"

fred walton retweeted

Kazimir: Breach of trust, its not possible to reach a deal

fred walton retweeted

Slovakian Fin Min Kazimir asked what he expects today "Nothing"

Pedro da Costa retweeted

Kazimir: its not possible to reach deal today, breach of trust too bad. We can make certain recommendations for leaders today. That's all.

Prior actions - demand to get cracking as soon as Monday ?  

Holger Zschaepitz @Schuldensuehner

#Italy's FinMin Padoan: Biggest Issue Is Lack of Trust. Greek Parliament Should Start Implementing Measures as of Monday.

fred walton retweeted

‏@nickkounis

Possibe outcome of #Eurosummit  

Duncan Weldon @DuncanWeldon

My *guess* now: Greece offered a much tougher deal than one already passed through Parliament with circa 24-48 hours to legislate on.

Geoffrey sets the scene leading to critical  EG at 11am , then Leaders Summit  at 3pm.  

Geoffrey Smith @Geoffreytsmith

'Grexit' looms as Germany stops bothering to wipe its fingerprints from the murder weapon - my latest on 
http://for.tn/1JXVqLX 