Sunday, July 12, 2015

Special Greece Update ( Sunday July 12 , 2015 ) EVENING UPDATE - POTENTIAL TENTATIVE AGREEMENT ! - EG Sunday Morning and Leaders Summit Sunday afternoon and continuing into the evening / night on tap today.... Key news and views on same !


Tweets.....


El-foldo ....







gr needs 7bn short-term over next month. remember the 2010 efsm? EUcomm can raise 60bn using it. that's what they're mulling










  retweeted




  retweeted


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




  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 ?







ECB update - Pablo Rodriquez....





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









"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.....




Embedded image permalink




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













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












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



















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



















  retweeted

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







  retweeted





  retweeted
Parts of the Eurogroup draft submitted to have leaked








  retweeted

"Measures required from go much, much further than what Greek people rejected in referendum", says








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











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












  retweeted









. 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.






  retweeted






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












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







Why not by yesterday?








  retweeted


over and out. Handover to . Progress made.






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













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










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








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"









  retweeted
DPA: No emergency procedure in . Any country can veto.








Eurogroup draft demands from Greece’s govt what toppled Greece’s previous govt





  retweeted



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




  retweeted










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








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














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









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








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












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









  retweeted

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








Schaeuble exposed: Full text of 5-year Grexit-plan. FinMin under fire in Germany







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








  retweeted








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









  retweeted

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








  retweeted

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







Nice overview leading into today !








Eurogroup has now begun !








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







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







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







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








  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 ?







  retweeted
Possibe outcome of





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








Someone Told Merkel... This is pretty spot on from Zero Hedge !







  retweeted
German government sources: Idea of a temporary Grexit was agreed on by Merkel and vice-chancellor Gabriel.