Italian Prime Minister Mario Monti, German Chancellor Angela Merkel and Greek Prime Minister Lucas Papademos are hopeful that an agreement can be reached on Greece at Monday’s Eurogroup meeting. The three leaders held a teleconference on Friday afternoon upon the initiative of the Italian PM. His office issued a statement saying that “the three leaders expressed the shared optimism over a Greek deal.”
After the teleconference Papademos spoke on the phone with his Dutch counterpart.
The Greek side says that the country has met all the commitments asked and now the responsibility is in the hands of Greece’s European partners.
According to Bloomberg “Germany expressed confidence that euro-area governments will agree on a 130 billion-euro ($171 billion) rescue for Greece within days, while seeking to keep a bond swap of the nation’s debt on track.
German Chancellor Angela Merkel, Italian Prime Minister Mario Monti and Greek Prime Minister Lucas Papademos discussed plans for a second Greek bailout in a conference call today and are optimistic that euro-area finance ministers will “find a solution to open questions” when they meet on Feb. 20, Steffen Seibert, Merkel’s chief spokesman, said in an e-mail statement.”.
The Greek care taker government shares no pain of the people. After all, it’s a technocrat.
It’s like a surgeon. Cut, saw, more cut, more saw. All necessary. Not his part to feel the pain.
The Greek people, on the other hand, are scared, shamed, confused. Like a herd, it moves along.
Aimlessly. Who knows what’s next? Doesn’t seem like death. That’s good enough.
Germany drawing up plans for Greece to leave the euro
“The German finance ministry is actively pushing for Greece to declare itself bankrupt and to agree a “haircut” on the bulk of its debts held by banks, a move that would be classed as a default by financial markets.”
“His pessimism has been tipped into despair with a secret European Commission, Central and IMF report that even if Greece made good on its promises, it would not be enough to reach the target of bringing total debt to 120 per cent of GDP by 2020.
“He just thinks the Greeks cannot do what needs to be done. And even if by some miracle they did what has been promised, he – and a growing group – are convinced it will not pull Greece out the hole,” said a eurozone official.”
“The idea instead is that the Greek government should officially declare itself bankrupt and begin negotiating an even bigger cut with its creditors. For Schäuble, it is more a question of when, not if.”
“Rumours are already circulating in Wall Street that banks are preparing for a “credit event” – a technical term used by credit agencies to mean a default – in the days immediately following March 20, as Greece looks likely to be unable to meet its debts.
The sense that an endgame is approaching has been fuelled by the secret “troika” report, by EU, IMF and ECB officials on Greek debt “sustainability”.
http://www.telegraph.co.uk/finance/financialcrisis/9091021/Germany-drawing-up-plans-for-Greece-to-leave-the-euro.html
Greece’s government has agreed to pay part of its revenue into an escrow account that would be used only for servicing debt.
http://www.efxnews.com/story/10282/greece-has-accepted-escrow-account-return-aid
How dare they to enslave their citizens????
The greek peoeple should IMMEDIATELY stop paying taxes and sentence all members of the Goverment and the MPs who agree to his for high treason!!!