The situation in Greece is increasingly acute. Already on Tuesday the country can declare default because European authorities refused to renew the Greek financial aid until the referendum. European Commission President Jean-Claude Juncker, began a press conference on the debt problems of Greece. “Times” is an online broadcast of Juncker and what is happening in Greece on the eve of default.
16:09
But for the inhabitants of the capital of Greece, there are small advantages. In order to “facilitate the Greeks living in a difficult period in their country,” a trip by public transport – subway, buses and trams – will be free for the entire week. This was stated by Minister of Infrastructure, Transport and Networks of Greece Christos Spirtzis, the agency EFE. The decree will apply only in Athens, and other cities of the country where the head of the public transport, private companies, it does not spread.
16:04
A few words about how the Greeks themselves in crisis. Sunday was very lively, reports Greek portal “Russian Athens.” According to the newspaper, despite the fact that there is no panic among the population, over the weekend Greeks hastened stock of cash and food. “We fill up three or even four times the shelf. And that’s just for the morning! “- Quoted by the media manager of a supermarket. He explained that even for a Saturday this situation – is nonsense.
15:59
At the Interbank session on Monday night CHF the euro rose in price by 1.1%, or 1.0315 francs per euro. Over the course of the past six months the Swiss franc rose against the euro by 16%.
15:53
By the way, not only among the Greeks difficulties with payments on loans. According to the newspaper The New York Times, may declare a default Puerto Rico. Public debt of the country with a population of 3.6 million people is about $ 72 billion. According to the governor of Puerto Rico Alejandro Garcia Padilla, a country unable to service its debt in such amount.
15:50
The first working day after the failure of the Greeks, as called for Angela Merkel, “extraordinarily generous” offer creditors and the announcement of the referendum cost Europe billions of euros. The capitalization of European banks fell to 50 billion – the worst figure since November 2011, writes Bloomberg. Hardest cheaper paper finance and credit companies in Portugal, Spain and Italy. The leader of the fall was the Portuguese Banco Comercial Portugues – his papers fell by 9.1% during the trading session today.
15.44
International rating agency Standard and Poor’s will not be considered a default by Greece not paying debts to the ECB, said “Gazeta.ru” in S & amp; P.
15:36
British Prime Minister David Cameron convene an emergency meeting of the Cabinet of Ministers to to discuss the possible consequences of the Greek crisis, reports Reuters. According to Press Secretary Cameron, the meeting will be attended by the head of the Bank of England Governor Mark Carney, Finance Minister George Osborne, as well as other ministers.
15:27
Meanwhile, the comparison made by Juncker Greek exit from the euro zone with the suicide (report, published at 14:30 in our online broadcast) was perceived negatively by some representatives of the media attended the press conference. “It may hurt the feelings of the relatives of those who committed suicide because of the crisis”, – said the freelance correspondent Irish Times Irish editions of Demyan Makkonyulad. According to the study of the Greek University of Thessaly, with the period from 2010 to 2012 the number of suicides in Greece increased by 35%.
15.23
«Even if Greece declares a default, the prospects” of the Turkish stream “is not threatened. Moscow, knowing the difficult economic situation in Athens, yet is ready to provide financial resources to the Greeks ».
« As expected, the continuation of the construction of the Greek “Turkish Stream” will start next year with a loan that Russia will give to Greece the construction of this section of pipe. Upon completion, Greece will receive a stable supply of gas at subsidized prices, revenues for transit and will be the second most important gas hub in the region. This, however, is hampered by a lack of investment for the construction of an integrated gas system and narrow the internal gas market “, – told” Gazeta.ru “a member of the expert council of the Union of Russian Oil and Gas Eldar Kasai.
15:17
On Saturday night Tsipras announced the decision to hold a national referendum on July 5. Greek citizens will be asked to express their attitude to the plan for the settlement of arrears prepared by the creditors. “The people must decide what to do, without any compulsion,” – said in a televised address to Tsipras nation. At the same time, the Prime Minister said that he would request an extension of aid programs before the date of the referendum.
15:13
On Friday, Greek Prime Minister Alexis Tsipras rejected the latest offer of the Greek lenders, accusing the EU of blackmailing the negotiations. “The fundamental principles of the European Union: democracy, solidarity, equality and mutual respect. However, the negotiations were like blackmail and ultimatums, “- he said the results of the EU summit in Brussels. Greek government considered inadequate and the renewal of financial assistance. “International institutions have offered Greece to extend the program of financial assistance for five months, the proposal seems inadequate. We have no moral right to sign the agreement, “- said in a statement the government.
15:09
All last week, Greece together with its creditors – the International Monetary Fund (IMF), European Central Bank (ECB) and the European Commission – have tried to reach an agreement to resolve the situation. Athens submitted several proposals for its part, to reform the financial system, in exchange expecting relief and deferral of payments on the loan. However, lenders are offering their conditions, which did not suit Greece.
15:07
The head of the European Commission, Jean-Claude Juncker concluded his remarks, but we still remember what lived Greece last week.
15:05
By the way, according to analysts of US bank Morgan Stanley the probability of a Greek exit from the euro zone to the end of 2016 is 45 to 60%. Even higher – at 85% – estimated the probability of Athens from the currency bloc, former executive director of the investment fund Pacific Investment Management Mohamed El-Erian, according to Bloomberg. According to him, it will happen in the next few weeks.
15:00
But, by the way, himself, Jean-Claude Juncker.
14:57
If the Greeks will vote against the euro, it will have catastrophic consequences for Greece, European Commission President Jean convinced Claude Juncker. “The entire planet will perceive it as a sign that the Greek people want to distance itself from Europe”, – he said.
14:54
Recall offer creditors implied rejection of the increase in retirement pensions for low-income Greeks to December 2019. “This reduction in pension payments that would Juncker said no,” – said the chief editor of the Financial Times Brussels Bureau Peter Spiegel.
14:50
The package of proposals submitted by the Greek authorities, was “demanding, but fair,” said Jean-Claude Juncker. “We never offered to reduce pensions,” – said Juncker. Reducing pensions do not offer lenders – they insisted on substantial and more sharply than planned in Athens, raising the retirement age. “The Greek government has been able to find his replacement our reforms,” - says the head of the European Commission without adding, however, that Greece has offered his reforms, but all proposals were rejected by the creditors of Athens.
14:45
In the tweet of the European Commission – the link to live video performances, Jean-Claude Juncker.
14 40
Meanwhile, in the UK, some bookmakers have stopped taking bets on the exit of Greece from the euro zone because of the “very high risk”. According to the British bookmaker William Hill, bets accepted prior to the termination at a rate of 3 to 1, probability of the country was estimated at 33%. In the event that Athens will be able to still find a solution to this situation, those who bet on the preservation of the boundaries of the eurozone, will benefit three pound for every pound raised. According to another major British bookmaker, Paddy Power, rates continue to be taken – at a rate of 8.11. Thus, the probability of a Greek exit from the euro zone is estimated at 57%.
14:36
Juncker said about the possibility of further negotiations. “The door is still open”, – said the head of the European Commission, not forgetting passing blame failure of negotiations the Greek government. According to him, the lenders literally “moved mountains” doing everything they can, but “the Greek authorities slammed the door.” Despite the possibility of continuing negotiations, Juncker is not ready to announce any new proposals for Athens to resolve the debt crisis.
14:30
Head the European Commission, Jean-Claude Juncker urges citizens to vote in favor of Greece is to stay in the eurozone. “I ask the Greek people say” yes “to the referendum on Sunday,” – concluded Juncker, adding: “I say to the Greek people – you do not have to commit suicide because you are afraid of death».
14:25
The head of the European Commission, Jean-Claude Juncker has accused the Greek authorities of selfishness. “We have seen selfishness, tactical game populist – said Juncker, speaking at a press conference in Brussels. – After the effort that I put, I feel cheated. ” The juxtaposition of a democracy another eighteen (in the euro zone consists of 19 countries, including Greece. – “Times”) “unworthy of the great Greek people, and unfairly against the citizens of Greece … I did everything I could, and the rest, too, did everything they could and we did not deserve the criticism aimed at us, “concluded the head of the European Commission.
14:23
Currently, Brussels is an urgent press conference on the Greek financial crisis. The conference acts as the head of the European Commission, Jean-Claude Juncker. Earlier, on the situation with Greece expressed Chancellor Angela Merkel. Speaking to the caucus of the Christian Democratic Union, Merkel said: “If the euro falls, falls and Europe”. According to her, the viability of Europe lies in the ability to find compromises. “If we lose the ability to find a compromise, the continent will be lost. For the eurozone important solidarity and joint efforts “, – he added Merkel.
14:20
Hello, dear readers! We start our online broadcast on the situation surrounding the economic crisis in Greece.
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