Greece into default: Today is the deadline for the repayment of 1.7 billion to the IMF that Athens intends to break even at midnight ending the aid program of the troika. The ECB, for the first time, does not exclude the exit of Greece from the euro, assumptions against which the finance minister greek Yanis Varoufakis threat recourse to EU Court of Justice.
Bags cautious today after the collapse of yesterday ( Milan closed down 5%). A decrease in start-up, the Milan Stock swings on the values of the closing on Monday.
The spread between BTP and Bund, after the jump yesterday, today is stable at just above 161 points, slightly above 159 yesterday’s closing. The Italian ten-year bond yield is at 2.38%. Banks closed in Greece until July 7.
“The large crowd gathered in Syntagma gives us strength. With calm and composure will face threats and blackmail, “said Premier greek Alexis Tsipras during a live interview on the public television ERT in which did not rule out the departure in case of victory of yes in the referendum on Sunday on the proposal of the creditors. “I’m not a man for all seasons,” the premier said, when journalists asked him what he will do if they win Sunday’s yes.
If the no wins, “perhaps we should say goodbye to the euro “then said the prime minister. “The Greek people can survive without the aid program,” he still said the leader of Syriza.
“I do not think that lenders will want to chase the Euro. The costs would be enormous, “stressed the Prime Minister again, arguing instead that” they want to throw out a government that has the popular support: theirs is a political choice. “
” People have the right to choose their future, “insisted Tsipras. “The people will hear his opinion on the notes issues: their voice will be heard.” “The stronger the front of No, the stronger the chance of a better negotiated after the referendum,” he added.
The France wants Greece to remain in the euro zone. That is what the French Finance Minister Michel Sapin in an interview with Europe 1 radio that the referendum called by the government Tsipras’ debate should be clear: so will have consequences, the other will not do. ” Sapin reiterated that the Greek situation will not however impact on French banks and that prices at auctions of government bonds fell this week in Paris.
“If the euro fails, Europe fails” He said yesterday tedsco Chancellor, Angela Merkel. “Europe must be able to find a compromise in the face of every challenge,” he added.
“The point is: the greek referendum will not be a derby between the European Commission and Tsipras, but a derby euro against the drachma. This is the choice, “he wrote yesterday on Twitter in English Prime Minister Matteo Renzi.
The exhibition of Italy to Greece is” 35900000000 “, meanwhile precise Minister Economy Pier Carlo Padoan. On Twitter the minister writes that “circulating wrong data on direct exposure Italy vs Greece in bilateral loans and guarantees (updated calculations ESM) is 35.9
billion. “
The pressure to reopen talks between creditors and Greece meanwhile is getting stronger. Yesterday the French and American presidents, Francois Hollande and Barack Obama have “agreed to unite their efforts to facilitate a resumption of talks” on the Greek crisis, after a telephone conversation. It is what has been learned entourage of the head of the French state. “They agreed to join efforts to promote a resumption of the discussions, allow as quickly as possible a resolution of the crisis and ensure the financial stability of Greece,” said the same source Elysee. Yesterday Obama spoke on the phone with Merkel.
Even China has “interest” that Greece remains in the Eurozone. He said the Chinese premier Li Kequiang during his visit to Brussels. “We ask – he added – to international creditors to reach an agreement with Athens.”
The conference of leaders of the European requests the President of the EU Commission Jean Claude Juncker in the coming hours to hold an extraordinary Eurosummit on Greece .
“I am saddened by the spectacle that is given in the EU, the good will has evaporated, selfishness and tactical games or populists prevailed after all the efforts made, I feel betrayed because you do not take in consideration personal efforts and others, “said Juncker, that the Greeks asked to vote yes in the referendum on Sunday on offering creditors:” Voting no would mean that Greece says no to Europe “, a vote against would be ‘ disastrous. ”
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