Grexit scares markets, the EU is preparing emergency – AGI – Agenzia Journalistic Italy

14:41 June 15, 2015

(AGI) – Rome, June 15 – Yet another failure of negotiations for the rescue of Greece, that has’ worn on the weekend, back to shake the markets. The Athens Stock Exchange lost 4.5%, after selling more than 6%, while Frankfurt moves back 1.5% and Milan get to lose 2%. Under pressure, especially bank stocks in Italy, Spain and Portugal.

The spread between Italian BTPs and German Bunds squirts to 158 points and then settle on the 148. The euro touched the minimum of 1.1188 on dollar before recovering to 1.12.
The nightmare of a Greek default seems more and more ‘concrete after negotiations that were to enable the parties to arrive at the Eurogroup meeting on 18 June with an agreement have been concluded with a stalemate.

When the leeway seem all the more reduced, with Athens accusing the creditors of little realism, while in Europe the growing number of appeals so that ‘member states should prepare emergency. In groped to mediate the International Monetary Fund: the night the chief economist Olivier Blanchard warned that “an agreement on Greece requires hard choices on all sides”.

Athens should engage seriously on “credible steps” and creditors should “reprogram payments on the debt at interest rates more ‘low’. “Member states are understandably nervous and we have to ensure that the eurozone is prepared for any scenario, compared to the Greek crisis”. Warns the vice president of the European Commission, Valdis Dombrovskis, sottolinenado that “the ball now and ‘clearly in the field of government greek”.

Even more ‘explicit German Guenther Oettinger, EU commissioner for digital economy: “We need to prepare a plan for a state of emergency because’ Greece will enter ‘in a state of emergency,” said . “I think that the EU Commission should work on a plan to avoid a worsening of the situation, in case Greece leaves the euro and in the event of bankruptcy.”

In a “real risk of Grexit” also speaks Spanish Foreign Minister Jose Manuel Garcia-Margallo, while French President, Francois Holland, comes instead the invitation “to resume negotiations as soon as possible” . Tsipras, for his part, does not move and ensures that Greece and ‘ready to wait until’ its creditors will not become more ” realistic ‘. “Pazienteremo – writes the newspaper Ephimarida ton Syndakton – until ‘the institutions will not become more’ realistic ‘.

According to the prime minister to lead the creditors and ‘l’ “political opportunism”, which leads them to a pressure on Athens to get the pension reform.
“We carry on our shoulders the dignity ‘ of a people and the hope of the peoples of Europe “, Explains Tsipras, sottolinenado that tenacity in negotiations to Athens and not ‘a’” ideological obsession “but” a question of democracy. “

To emphasize the red line besides which Athens does not intend to move back and ‘government spokesman, Gabriel Sakellaridis: “We will not accept measures on cutting pensions – says – on the rise in VAT on the main consumer goods, or measures that strengthen the vicious circle of ‘austerity’. “