Rather discreet on the "Greek case" the general director of the IMF reminded Greek leaders that "the IMF rules must be respected."However, it recognizes that the Greek debt must be restructured.As Alexis Tsipras think and against the advice of Angela Merkel.
IN PROGRESS: Updated at 11:44 p.m.
at 23:20
Our live is over.Thank you all!
Valls who tweets in Greek, Moscovici always serene, Lagarde uncompromising ... Here is the summary of the evening before the day for Alexis Tsipras who must make its copy on Thursday.Hopefully this time it comes up with proposals.He will get a mention or no mention at all?We know what the weekend.On that note, good night everyone.And fast!
at 23:07
The point to 23 hours
o Lagarde intransigent with Greece, but ... The Executive Director of the International Monetary Fund (IMF), Christine Lagarde, said Wednesday that it was not possible to reserve special treatment to Greece, marking its concern at the "serious crisis" facing the country.But unlike Angela Merkel does not want to address the issue at this time, Christine Lagarde recognizes that the restructuring of the Greek debt is "necessary".As Alexis Tsipras ...
o Sarkozy "shares the same view of Holland and Valls"
The right-wing leader said Wednesday night on TF1 that an agreement should be reached with Greece, provided demand counterparts."But there is a red line is that the compromise must be found should not destroy the credibility of the 18 other eurozone member countries," he added. "The Government of extreme Left refuses to make the reforms that others have done, "he said about Tsipras.
And as a bonus:
If you're planning to go to Greece this summer, remember to take with you drugs and cash. It is a recommendation of the Ministry of Interior .For drugs as "drugs and medical equipment stocks tend to run out in hospitals and pharmacies."For the liquid, because banks remain closed until Monday.Even if tourists are not affected by limited bank withdrawals, the Ministry recalls "current wait risks the ATMs or temporary interruption of the service of some of them."
On Thursday, Greek leaders are supposed to submit to their creditors a specific timetable for budgetary savings and tangible reforms.These will be discussed by the finance ministers of the euro area Saturday.
Saturday, July 11: If the program submitted is deemed convincing, negotiations will undertake to define a program that "ensures the stability of the country," promised Angela Merkel."The Saturday, July 11 will be decisive, especially in the position of France and Germany," says the expert.
Sunday, July 12: "However, if it is deemed insufficient, a European summit on Sunday 28 will then meet and discuss humanitarian assistance to Greece, to help the population to resist the inevitable exit from the Greece from the euro zone and a return to a national currency and the independence of the Central Bank of Greece. "
at 21:27
Sarkozy: "Everything must be done to find a compromise"
"Everything must be done to find a compromise" between Greece and its creditors, but this must not jeopardize the "credibility" of the countries of the eurozone, said tonight on the set of TF1, Nicolas Sarkozy.In this he agrees with Hollande and Manuel Valls."But there is a red line is that the compromise must be found should not destroy the credibility of the 18 other member countries of the euro area," he added.
The party president Republicans said there was "only bad solutions" to the Greek crisis, and it was to avoid "the destruction of the euro zone.""The most important thing to do today, and I am surprised that the President of the French Republic did not propose is preparing Plan B. What do we do if the drama happens, and if Greece spell? ", he has said, calling for a modernization of the euro area.
at 21:25
Lagarde: "No special treatment for Greece"
Rather quiet until then, the IMF Managing Director, Christine Lagarde, does not wish that the creditors' reserve preferential treatment "to Greece.However, as Alexis Tsipras, it recognizes that "a Greek debt restructuring is necessary." A question that Angela Merkel has always refused to resolve.
Greek state television says the country's banks will remain closed until Monday.Limiting bank withdrawals to 60 euros is maintained.
o Manuel Valls tweets Greek: "Greece is Europe"
After trying to reassure the French deputies on the Greek crisis, the Prime Minister tried to do the same with the Greek people by publishing a tweet in Greek, confirming its willingness to maintain at any cost Greece in the euro area:
Four days of yet another crucial European summit on the future of Greece, the European Commissioner for Economic Affairs, Pierre Moscovici, said that "the euro area is stronger than in 2012 and able to cope.Nobody cares! "Said he assured tonight on France Info.
Former Economy Minister noted "a new climate, a change of tone, a more constructive approach, more in tune" in the negotiations between creditors and Greek leaders.But he acknowledged "a loss of confidence, fatigue, irritation" among some European leaders.
o Europe asks for help to the IMF
The European bailout fund (ESM), to consider the request for financial assistance Greece has requested assistance from the IMF in assessing the sustainability of Greek debt, one of the major challenges of the crisis Greece, which for now has not yet been put on the table.
The MES also asked the European Commission and the ECB to examine whether Greece is a risk to the financial stability of the entire euro area.
on 21:08
Greek banks closed until Monday
Greek state television says the country's banks will remain closed until Monday.Limiting bank withdrawals to 60 euros is maintained.
at 21:04
Fillon denies any 'additional burden' for French
In an interview withLe Figaro , former Prime Minister scratches action in the Greek crisis François Hollande, whose "mixed messages" in his contribution to "weaken the positions of the negotiators."
at 20:08
The woes of Greece derided
For the designer Patrick LaMontagne, the economic woes of Greece and boil.It shows a man on the phone who says. "Of course, we have your credit card bills, but we held a family meeting and decided we will not pay, however, we will need another credit card ".
The designers are having a field day to be ironic about the negotiations between Greece and its creditors.On the picture below, we see Angela Merkel claiming his due to Alexis Tsipras and the Greek Prime Minister to remind him the victory of "no" in the referendum.
After trying to reassure the French deputies on the Greek crisis, the Prime Minister tried to do the same with the Greek people by publishing a tweet in Greek, confirming its willingness to maintain at any cost Greece in the euro area:
The former president of the European Central Bank, Jean-Claude Trichet, said an exit of Greece from the euro zone would be "the fault of governments.""If Greece really wants an agreement, the government has all the capabilities to get it," he said in an interview with Reuters.If there is no agreement, it would be a decision of the Greek leaders. "
He predicted an output of a country in the euro area would cause severe economic downturn in Greece."It would be a terrible disaster for the Greek people themselves, he says.You'll have a blast in the economy, more later a major contraction in GDP, a dramatic rise in unemployment and a drop in lifestyle. "
at 18:58
Moscovici: "Let no one cares!"
Four days of yet another crucial European summit on the future of Greece, the European Commissioner for Economic Affairs, Pierre Moscovici, said that "the euro area is stronger than in 2012 and able to cope.Nobody cares! "Said he assured tonight on France Info.
Former Economy Minister noted "a new climate, a change of tone, a more constructive approach, more in tune" in the negotiations between creditors and Greek leaders.But he acknowledged "a loss of confidence, fatigue, irritation" among some European leaders.
The ball is the camp of the ds # Greece .It all depends on their proposals.Ns are ready for all scenarios EU_Commissionfranceinfo
Pierre Moscovici continues to believe in an agreement Sunday, "our preferred scenario by far," so much that he does not consider the consequences of leaving the euro zone."The euro area is 19, not 18. Grexit would be a terrible collective failure.When you have a plan B is that we no longer believe the plan A "."The ball is in the court of Alexis Tsipras.For him to introduce compelling, clear and concrete reforms to allow Greece to become an attractive economy.Greece is an economy that needs deep reforms to fully part of Europe. The country has a rebound.We will present our analysis in the coming hours. ""Sunday will be the moment of truth, the last chance meeting," he warns.
at 18:35
Europe asks for help to the IMF
The European bailout fund (ESM), to consider the request for financial assistance Greece has requested assistance from the IMF in assessing the sustainability of Greek debt, one of the major challenges of the crisis Greece, which for now has not yet been put on the table.
The MES also asked the European Commission and the ECB to examine whether Greece is a risk to the financial stability of the entire euro area.
at 18:28
Greece in the eurozone?"We were wrong" (Juppe)
After Valery Giscard d'Estaing, it was the turn of former Prime Minister Alain Juppe to recognize that the entry of Greece in the euro zone was a mistake."We were wrong," he said in an interview on Swiss television.
"The Greek leaders are trapped" (Robert Schuman Foundation)
Jean-Dominique Giuliani, chairman of the Robert Schuman Foundation and former special adviser to the European Commission (2008-2010), European solidarity can only be exercised at the price of a gradual return to normal of Greek finances.
The former spokesman of the New Anti-Capitalist Party, Olivier Besancenot, believes that Greece's creditors are pushing for an output of the countries of southern Europe eurozone to "block the exit of Greece from austerity".
Canceled day early to make way for a meeting between the directors of the Treasury of the euro zone, the Eurogroup will take place tonight, according to the Luxembourg Finance Minister Pierre Gramegna.
at 18:12
The ECB continues its Aid to Greek banks
The Governing Council of the European Central Bank (ECB) decided to maintain the level granted emergency liquidity to Greek banks.The current ceiling of this mechanism called ELA is about 89 billion euros, according to banking sources.
Greek banks are threatened with a shortage of liquidity and capital controls in place for ten days in Greece due to the deadlock in negotiations between the Greek government and the country's creditors on financial assistance.
18:04
A "Grexit" or debt restructuring?The most expensive is ...
A Greek exit from the Eurozone countries accompanied by a payment default would cost more than a restructuring of Greek debt, according toLe Monde citing figures published by the Scottish bank RBS.A "Grexit" would cost a minimum of € 227 billion to the euro area (excluding indirect costs), including forty billion to France, 2% of its GDP.
As to debt relief for Greece, it would cost $ 140 billion if the weight of the debt to GDP of the country of Southern Europe increased from 177% (the current rate) to 100% maximum limit for a sustainable economy by experts.
at 17:53
The Grexit?"A geopolitical mistake" (United States)
For the US Treasury Secretary, the exit of Greece from the euro zone would be a "strategic mistake" reports AFP correspondent at the White House.
Jack Lew, US Treasury Secretary, go to the Grexit would be a "geopolitical mistake" (via jeremy_tordjman ) #AFP
The president of the United States, Barack Obama, called yesterday morning Chancellor Angela Merkel asking her to solve as soon the Greek crisis.
at 17:40
"The creditors will not wait until July 20"
After formalizing the Greek default vis-à-vis the IMF on June 30, the new date is July 20 fatal, and repayment of 3.5 billion euros at the ECB.Specifically, if Greece does not pay this amount at that date to the European institution, it is technically in default.This will mean that the ECB will inject more money into the Greek financial system.Banks will deposit the balance sheet, and the Greek economy with it.
But Vincent Ganne, analyst, "the creditors of Greece will not wait until 20 July.The real deadline is July 12.The ECB will maintain a drip Greek banking system this week, but not beyond. "
Saturday, July 11: If the program submitted is deemed convincing, negotiations will undertake to define a program that "ensures the stability of the country," promised Angela Merkel."The Saturday, July 11 will be decisive, especially in the position of France and Germany," says the expert.
Sunday, July 12: "However, if it is deemed insufficient, a European summit on Sunday 28 will then meet and discuss humanitarian assistance to Greece, to help the population to resist the inevitable exit from the Greece from the euro zone and a return to a national currency and the independence of the Central Bank of Greece. "
at 17:30
The 17:30 Recap
o Valls denied the "Grexit" and consult MPs
During a speech to the National Assembly, Prime Minister Manuel Valls reiterated its desire to see Greece stay in the euro zone."We want Greece to remain in the eurozone, he said.France will do everything for that.We must avoid the dislocation of Europe, the departure of Greece from the euro zone would be a symbol of powerlessness. "
He also announced that a vote will be held at the National Assembly in case of agreement between Greek officials and creditors.
o Athens agrees to reform pensions and taxation
Alexis Tsipras promised Wednesday to reform next week its pension system and taxes for its European partners a three-year loan to cover the debt repayments.
Here are the contents of the letter that the Greek Prime Minister to the European bailout fund (ESM):
The Greek government will enact a ministerial decree Wednesday extending a closure of banks that has already lasted eight days, said a senior government official."The closure of banks will be extended," said the official, without giving further details.
Greek banks have all the trouble to feed their ATMs, gradually exhausting the currency in circulation.Withdrawals from these machines are capped at 60 euros per day.
at 16:43
End of the Prime Minister's speech
The Prime Minister ended his speech.The group presidents of the National Assembly took the floor.The environmental group co-president is the first to speak.It welcomes the holding of a debate on the Greek crisis.
at 16:39
VIDEO - "Whatever the agreement, the National Assembly will have to decide"
The Prime Minister announced that in case of agreement with Greece a vote at the National Assembly."Whatever the agreement, the National Assembly will have to decide."
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