“I have enough cash and enough food at home. Now, I sit and wait,” a friend told me this morning. Anna is extremely worried that creditors will let Greece down with whatever the cost for the society. “They want Greece out of the euro and the EU, whatever the government will do.” Anna believes that creditors’ pressure and anti-Greek sentiment has nothing to do with finances. “It is purely political. Look Juncker said last week, the disagreement was on 60 million euro. They will let down Greece for 60 million? It is political!”
Tonia shares Annas’ view 100%. “Of course, it’s political, they don’t want SYRIZA to succeed out of fear that other people in Europe will rise up,” she says. Tonia does neither line up in front of the ATMs, nor did she stock shopping. “I will go crazy, if I fall into this psycho trap. I don’t do it,” she underlines and adds that she neither paid rent or utility bills awaiting to see what will happen in Brussels.
Like many other Greeks, Anna and Tonia have cancelled even short-term plans and await for the decisions to be taken in Brussels today. They are both NO-voters, even though one of them has been voting for the conservatives all of her life.
“It’s finished. The only space for maneuver the creditors let us, was to go and vote. And yet, they decide above our heads, despite the referendum outcome. They are pathetic and harm the European idea,” Tonia stresses.
Greece stands with one leg in the cliff of economic collapse, its European partners and creditors are to decided later today, whether the negotiations will start again. Athens has gone to Brussels with a new proposal and the backing of three opposition parties.
Schedule for Tuesday/Wednesday
Eurogroup meeting: 1 pm
EU Leaders Summit: 7 pm
ECB to convene again Wednesday
Bank Holiday until Wednesday – New decision later on the day depending on ECB’s decision about ELA for Greek banks.
Athens Stock Exchange to remain closed until Wednesday as well.
Unconfirmed information has it that 16 out of the 18 Euro-area members are for a Grexit. Many of the European ‘democrats’ have said that the Referendum result is irrelevant.
European Commission President Jean-Claude Juncker told the European Parliament this morning:
“I am against Grexit. There are some in Eurozone openly or covered favoring Grexit. European Commission will do anything to prohibit this.”
However he added that ” Tsipras must explain what was the question again?”. And I reckon Juncker saying before the Referendum: “Greeks should vote YES whatever the question!” So the Eurocrats were supporting YES although they didn’t know the Referendum question? Go figure…
No final decision on Greek problem is expected today. PM Alexis Tsipras and new FinMin Euclid Tsakalotos will be in Brussels to table new proposals and have negotiations restarted. Tsipras’ new proposals have the backing of opposition parties New Democracy, PASOK and To Potami junior coalition partner ANEL for a “socially just and economically viable” agreement with the creditors.
In fact, the restart of negotiations aim for a new bailout program that could be total up to “€70billion” as some Greek media claimed today. The second bailout program expired on June 30th and talks from February to June were actually a kind of “review” for the second MoU.
In Brussels there is allegedly talk about a
“Bridge solution with bridge funding – €6bn in July and €7bn in August.“
An idea allegedly proposed by France and supported by Cyprus.
ECB’s Notovny told Austrian TV Monday night that “a bridge funding until agreement reached was thinkable. Novotny stressed that ECB would not be able to provide more liquidity for Greece if it defaulted on its debt.
Without bailout program the ECB cannot fund Greek banks, therefore a political solution is necessary for such a thing like “bridge funding.” Since Friday, June 26th the ECB has rejected Greece’s requests to increase ELA for the country’s banks. On Monday, ECB went even so far to “haircut” Greek collateral for ELA.
The IMF and Christine Lagarde will reportedly stay away from the Brussels meetings today.
Meanwhile in Greece, the market has been paralyzed as people refrain from spending their money afraid of a possible banks collapse in the next days. Queues outside ATM’s remain long as more and more people struggle to withdraw their daily €60 portion, which is in fact just a 50-euro banknote. The bank holiday seems to have created a shortage of 20-euro banknotes.
There are rumors that there is a shortage of goods, medicines and other products, but not confirmed.
Capital controls and bank holiday have created lots of problems also to Greek websites that cannot extend Web Hosting as Greek credit and debit cards are not accepted abroad.
PS if one day you see no “KeepTalkingGreece“ then you know why…