Post From KTFA By ThunderHawk » July 7th, 2015,
Backdoc Alert
Greece Expected To File Loan Request Within Hours: Stubb
M/Z Euro zone finance ministers expect Greece to file a formal request for a loan from the European Stability Mechanism within hours, Finnish Finance Minister Alexander Stubb said on Tuesday.
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Backdoc Alert
Greece Expected To File Loan Request Within Hours: Stubb
M/Z Euro zone finance ministers expect Greece to file a formal request for a loan from the European Stability Mechanism within hours, Finnish Finance Minister Alexander Stubb said on Tuesday.
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"We expect a request for an ESM to be imminent, in a few hours," he told reporters after a Eurogroup meeting in Brussels. (Reporting by Robin Emmott; Editing by Alastair Macdonald)
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Post From KTFA By ThunderHawk » July 7th, 2015,
Backdoc Alert
ECB To Keep Greek Banks Afloat Till Sunday: Merkel
European Council President Donald Tusk (L), German Chancellor Angela Merkel (2nd R) and French President Francois Hollande (R) take part in a euro zone EU leaders emergency summit on the situation in Greece, in Brussels, Belgium, July 7, 2015.
European Central Bank chief Mario Draghi assured euro zone leaders on Tuesday the ECB would do the necessary to keep Greek banks afloat until an EU summit on Sunday that will seek a deal on further aid to Greece, German Chancellor Angela Merkel said.
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Post From KTFA By ThunderHawk » July 7th, 2015,
Backdoc Alert
ECB To Keep Greek Banks Afloat Till Sunday: Merkel
European Council President Donald Tusk (L), German Chancellor Angela Merkel (2nd R) and French President Francois Hollande (R) take part in a euro zone EU leaders emergency summit on the situation in Greece, in Brussels, Belgium, July 7, 2015.
European Central Bank chief Mario Draghi assured euro zone leaders on Tuesday the ECB would do the necessary to keep Greek banks afloat until an EU summit on Sunday that will seek a deal on further aid to Greece, German Chancellor Angela Merkel said.
Speaking at a news conference after an emergency summit of euro zone leaders, Merkel said she was "not exaggeratedly optimistic" of a solution to rescue Greece on Sunday but the summit had been called "because we think the situation is so dangerous".
Asked if Greece could crash out of the euro zone if it failed to put forward convincing reform proposals, she said Sunday's summit would decide whether to open negotiations on a two-year program for Athens.
The leaders had not discussed the idea of Greece possibly creating parallel currency, Merkel said.
She said the euro zone stood by a 2012 commitment to look at debt relief for Greece if it fulfilled the conditions, but there could be no question of a debt haircut, which would be illegal under the EU treaty.
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The leaders had not discussed the idea of Greece possibly creating parallel currency, Merkel said.
She said the euro zone stood by a 2012 commitment to look at debt relief for Greece if it fulfilled the conditions, but there could be no question of a debt haircut, which would be illegal under the EU treaty.
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