After Greece made a last-ditch proposal to extend its bailout, the creditors decided in a teleconference that there was no way they could reach a deal.
Greece's international bailout expired at midnight central European time, after which the country lost access to billions of euros in funds. The IMF confirmed shortly after the deadline that Greece had failed to make a 1.6 billion euro payment.
An EU official said Greece's creditors would focus on a new plan for the country starting on Wednesday.
The brinkmanship that has characterised Greece's bailout negotiations with its European creditors and the IMF rose several notches over the weekend, when Prime Minister Alexis Tsipras announced he would put a deal proposal by creditors to a national referendum on Sunday. He is advocating a "no" vote.
The move increased fears the country could soon fall out of the euro currency bloc and Greeks rushed to pull money out of ATMs, leading the government to impose restrictions on banking transactions on Monday for at least a week.
Greeks are now limited to cash withdrawals of 60 euros ($67) a day and cannot send money abroad or make international payments without special permission.............http://www.france24.com/en/20150630-greece-seeks-short-term-bailout-extension-deal-ahead-default-deadline
30/6/15
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«Ληξιπρόθεσμη οφειλή», όχι χρεοκοπία η μη πληρωμή της δόσης στις 30 Ιουνίου (ΔΝΤ)
ΕSM: Εληξε το πρόγραμμα - Χάνονται δόσεις 12,7 δισ
Turkey offers help for Greece on financial crisis
Καταστρέφουν τη χώρα για να κρατήσουν την εξουσία (ή τα νέα Ιουλιανά) -Ο νέος σωτήρας της.
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La Grèce a fait défaut sur sa dette vis-à-vis du FMI...
ReplyDelete(Belga) La Grèce a fait défaut mardi sur sa dette vis-à-vis du Fonds monétaire international en n'honorant pas un remboursement de 1,5 milliard d'euros qui lui était dû mardi, a annoncé l'institution de Washington.
Athènes devient ainsi le premier pays développé à accumuler des arriérés de paiement vis-à-vis du FMI et n'a désormais plus accès aux ressources financières de l'institution qui, de son côté, essuie le plus grand défaut de son histoire. (Belga)
rtl.be
1/7/15
Greece fails to repay its $1.8 bln debt to global financial regulator — IMF...
ReplyDeleteThe International Monetary Fund (IMF) announced that Greece failed to repay its 1.6 billion euro debt [$1.78 billion] to the global financial regulator as the deadline expired on June 30 at 18.00 Washington time [22:00 GMT].
IMF Spokesman Gerry Rice said that Greece would be able to receive further financial assistance from the global regulator after the country clears its 1.6 billion euro debt.
Since 2010, when Greece’s sovereign debt crisis broke out, Athens received 240 billion euros in two tranches of bailout loans from the EU and the International Monetary Fund [IMF].
Despite a partial debt write-off in 2012, Greece’s sovereign debt exceeded 315 billion euros or 175% of its GDP up to date. This figure was almost three times the debt-to-GDP ratio set for the eurozone countries, which should not exceed 60% of GDP according to the EU’s Stability and Growth Pact.
Greece was scheduled to repay the 1.6 billion-euro loan to the IMF on June 30, which was just an interest payment at a reduced rate. Greece also had the chances of rescuing the situation by resorting to the 7.2 billion-euro loan intended for Greece as part of the second international macro-finance assistance program.
http://tass.ru/en/world/805113
1/7/15
Griechenland prellt als erstes westliches Land den IWF...
ReplyDeleteEin historischer Vorgang: Griechenland hat den Kredit des Internationalen Währungsfonds nicht pünktlich bis Mitternacht zurückgezahlt. Das gab es bisher nur bei Ländern wie Somalia oder Simbabwe.....welt.de
Greece has not applied to Russia for financial aid in recent days, Finance Minister Anton Siluanov told reporters on Wednesday....
ReplyDelete"No," - he said when responding to the relevant question.
On Tuesday, Greece did not pay its 1.5 bln euros debt to the International Monetary Fund (IMF) on time. Athens requested the organization to postpone the payment.
Earlier the IMF Chief Christine Lagarde said that if Greece did not pay off its debt that would mean its default on the IMF loans............http://tass.ru/en/economy/805155
The Greek government has requested more time from International Monetary Fund to repay a 1.5 billion euro loan installment that was due on Tuesday midnight Greek Deputy Prime Minister Yannis Dragassakis said on Tuesday evening....
ReplyDeleteMeanwhile, the debt laden country will submit an updated proposal for a debt deal with international creditors to the new Eurogroup talks scheduled for Wednesday, the Greek official added.
In an interview with Greek national broadcaster ERT shortly after an emergency Eurogroup teleconference ended with no result, Dragassakis revealed that the proposal Athens made earlier on Tuesday for a two year debt deal with the European Stability Mechanism (ESM) to fully cover Greece's financial needs and a parallel debt restructuring would be updated in coming hours.
The proposal which excludes the International Monetary Fund was tabled a few hours before the extended Greek five year bailout expires also on Tuesday midnight amidst increased concern over an imminent default and possible Grexit in coming weeks.
The restart of last minute negotiations between the two sides revived hopes that an agreement to unlock further vital aid to Greece could be reached in the next hours to avert dramatic developments.
Greece's banks remain closed since Monday and capital controls have been imposed after the European Central Bank (ECB) freezed emergency liquidity assistance (ELA) to Greek banks in response to Athens' shock call for a referendum on the lenders' "humiliating" draft deal for the forthcoming Sunday.
The Leftist administration has urged the electorate to vote No, as European leaders, Greek opposition parties and analysts warned that the result could be interpreted as No to Greece's future membership in the euro zone................http://www.globaltimes.cn/content/929798.shtml
1/7/15