Hablemos de Europa

[muyuu]

Creo que la fractura Norte-Sur de la eurozona está más o menos clara.

Del forero Gorbachoff de burbu.

[muyuu]

Greece finally admits €2bn gas pipeline deal with Russia

Greece finally admits €2bn gas pipeline deal with Russia

Closer ties between Athens and Moscow is likely to worry the US, which has stepped up its involvement in Greece's debt crisis

Greece has admitted for the first time it is planning a €2bn gas pipeline with Russia.

The move is likely to worry the US, which has stepped up its involvement in Greece's debt talks with international creditors over fears the cash-strapped country could drop out of the single currency and come under the influence of its Cold War rival.

Panayotis Lafazanis, Greece's energy minister, said the move would be a key part of the country's "multi-faceted" foreign policy and would create 20,000 jobs, the Financial Times reported.

Figures released by Greece’s National Statistics Service on Thursday showed unemployment at 25.6pc in April.

Reports in April suggested Moscow was ready to provide advanced payment to Greece for the "Turkish Stream" pipeline project, which will transport 47bn cubic metres of Gazprom's gas annualy from 2018.

Those reports were quickly denied by the Kremlin, depite Greek Prime Minister Alexis Tsipras visiting Russia to hold talks with Russian president Vladimir Putin.

During that visit to the Kremlin, Mr Tsipras insisted Greece was a “sovereign nation with the indelible right to carry out its own foreign policy”.

Germany's finance minister, Wolfgang Schauble, has previously said he had no objection to any deal with Moscow, but that ultimately it would not "fix Greece's reform problems".

Beijing has also sought to invest in Greece's port infrastructure.

Mr Lafazanis, who heads up the Left Platform of Syriza, has hailed a new dawn in Greco-Russia relations and has invited the likes of state-sponsored Gazprom to drill for oil off the Greek coast.

It comes amid reports Greece's European creditors are willing to give the country debt relief, following its default on loans to the IMF last month.

[juancoco]

Así como los alemanes son de buenos produciendo así son de malos (y siempre lo fueron) a la hora de la geopolítica.

[muyuu]

Los mercados parecen estar reaccionando a un acuerdo.

-------------
(Guardian)
Summary: Greece compromises, at the last moment

So to recap, Greece put forward a plan of reforms, spending cuts and tax rises that is close to what was demanded by its creditors before Alexis Tsipras called last Sunday’s referendum.

The plan includes sweeping reforms to VAT to raise a full 1 percent of GDP, moving more items to the 23% top rate of tax, including restaurants - a key battleground before.

Greece has also dropped its opposition to raising VAT on its islands, starting with the most popular tourist attractions, despite firm opposition from Tsipras’s coalition partner.

Athens also appears to have made significant concessions on pensions, agreeing to phase out solidarity payments for the poorest pensioners by December 2019, a year earlier than planned. It would also raise the retirement age to 67 by 2022.

And it has agreed to only raise corporation tax to 28%, as the IMF wanted, not 29% as previously targeted.

Greece is also proposing to cut military spending by €100m in 2015 and by €200m in 2016, and implement changes to reform and improve tax collection and fight tax evasion. It will also press on with privatisation of state assets including regional airports and ports; some government MPs had vowed to reverse this.

In return, Greece appears to be seeking a three-year loan deal worth €53.5bn.

Two obvious questions -- will this still be enough for creditors, or will they push for even tougher “conditionality” now we’re talking about a new bailout programme. And how will Alexis Tsipras persuade his party, including the hardline Radical Left, to support it?

---------------
(Telegraph)

The IMF want even more debt relief for Greece

Another cat among the pigeons tonight. There seems to be no mention of debt sustainbility in the new Greek plans, but in a very timely intervention, the IMF's chief economist has now said Greeks may need even more debt alleviation than that set out by the IMF in a stark report released last week.

Writing on his blog, Olivier Blanchard has admitted that European creditors have not been on board with the IMF's assessment which said last week that Greece would need drastic debt relief, amounting to nearly 30pc of its GDP.

Here's the relevant passage:

Until the referendum and its potential implications for growth, we believed that, under these assumptions about the primary surplus, debt sustainability could be achieved through the rescheduling of existing debt, and long maturities for new debt. This was reflected in the preliminary debt sustainability analysis (DSA) we put out before the referendum.
Our assessment was seen as too pessimistic by our European partners to whom we had communicated our views about the need for debt relief long before publishing the debt sustainability analysis.
We believe that current developments may well imply the need for even more financing, not least in support of the banks, and for even more debt relief than in our DSA.

Debt relief only after 2022?


The government's proposals have now been posted on the Greek government's website.

My Greek isn't great, but Greek journalists are saying the plans include a commitment to debt relief only after 2022. Significantly this is the year that Greece begins to start paying back its interest on European rescue loans.

And in signs that not everyone is happy about the direction Mr Tsipras is going in, it seems that Leftist rebel energy minister Lafazanis, and right-wing defense minister Panos Kammenos have not put their signature to the plans.

@NikiKitsantonis

Greece's loan request to ESM + prior actions on Parl's site w doc seeking commitment to restructuring debt after 2022
http://www.hellenicparliament.gr/UserFiles/c8827c35-4399-4fbb-8ea6-aebdc768f4f7/9292390.pdf

 

Writing to reach EU
The FT have also got hold of the two covering letters from PM Tsipras and his finance minister Euclid Tsakalotos. You can the latter here.
In them, both politicians refer to their desire to remain "integral" members of the eurozone. Significantly, since no mention of the debt relief.
Here's Mr Tsipras:

[mpt]

no alcanzo a adivinar si se queja de la cantidad de favelas -y la profundidad de ellas- que le asignan, o si se queja de que no le dejen tener empresones

http://www.elconfidencial.com/mundo/2015-07-09/el-nuevo-capo-economico-de-syriza-dice-que-merkel-solo-quiere-mano-de-obra-barata_920023/

este lo ve claro, para la proxima recesion en "L", salvar empresones favelando

http://www.abc.es/economia/20150708/abci-ceoe-empresas-temporalidad-201507072055.html

[lectorhinfluyente1984]

https://public.tableau.com/views/DeudaGrecia2015/Dashboard1?amp;&:embed=y&:showTabs=y&:display_count=no

[saturno]

En v/F:
... Y mientras tanto, Austria restructura la deuda de su BadBank de Carinthia con Baviera...
http://www.latribune.fr/economie/union-europeenne/et-pendant-ce-temps-l-autriche-restructure-sa-dette-491019.html


Artículo un poco de mala leche, pero es interesante para tener una idea de cómo andan las Cajas alemanas.

[muyuu]

http://youtu.be/Fnswb2BCxNc
	Small | Large

[saturno]

Ninguna fuente oficial, salvo el propio medio

http://www.francetvinfo.fr/monde/grece/crise-grecque-des-hauts-fonctionnaires-francais-a-la-manoeuvre_991321.html

Unos altos funcionarios delTesoro galo han trabajado el jueves con los Griegos para cifrar correctamente la propuesta  griega y que pueda ser recibida ante la UE.

Edit:
Las "fugas" parecen ser aposta.

http://www.huffingtonpost.fr/2015/07/09/crise-grecque-experts-francais-bercy-athenes_n_7760386.html

Prensa economica griega : quotidien économique Naftemboriki, l

Le figaro: http://www.lefigaro.fr/international/2015/07/08/01003-20150708ARTFIG00267-athenes-compte-sur-le-soutien-francais-face-a-la-durete-de-berlin.php?redirect_premium

The Guardian:
http://www.theguardian.com/business/live/2015/jul/09/greek-crisis-reform-plan-grexit-tsipras-draghi-live

P.S.: lo que me jode, es que haya que pasar por "fugas" para que nos enteremos.
¿Es que no pueden trabajar juntos abiertamente?

¡
Edit. De paso, No se dice "fugas", sino "filtraciones", Gracias a Muyuuu unos posts adelante.

[saturno]

Conversación de V. sobre la crisis griega invitado de una revista de filosofía gala:
http://www.philomag.com/lepoque/dialogues/yanis-varoufakis-jon-elster-grece-faites-vos-jeux-rien-ne-va-plus-11420

[muyuu]

¿No se suele decir "filtraciones" en vez de "fugas" en español? Últimamente no leo mucho en español, a lo mejor estoy "fuera de onda".

[muyuu]

El RBS ha sacado un esquema similar al del diario italiano de ayer.



Fractura "Norte-Sur" en toda regla. Y es que algunos países van a bailar al son de Alemania prácticamente siempre por intereses intra-UE. Aparte de otras afinidades, filias y fobias.

[El afilador]

El RBS ha sacado un esquema similar al del diario italiano de ayer.



Fractura "Norte-Sur" en toda regla. Y es que algunos países van a bailar al son de Alemania prácticamente siempre por intereses intra-UE. Aparte de otras afinidades, filias y fobias.

Es curioso, los únicos que defienden su permanencia a cualquier precio son un estado trilero fallido y "rescatado", dos estados que empiezan a tener algunos síntomas de la enfermedad que aflige a los griegos (con unas MN que no se van a deflactar con gusto) y 2/3 del stablishment europeo. La maquinaria europea quiere que se queden. Los países por separado ya están cansados de chorradas.

Por cierto lo de "Miriano Rajoy" es hasta gracioso y sintomático: Estamos en el grupo sí-pero-no y nuestra opinión cuenta tanto que ni saben cómo se escribe el nombre del presidente español.

EDIT: Supongo que como un owned. Al pobre Jeroen Dijsselbloem también le han escrito mal el nombre (al menos en la wikipedia no es como en el gráfico). Estos becarios de verano...

EDIT 2: o igual es que tampoco pinta nada 

[saturno]

Texto oficial de las propuestas
Greek final

[muyuu]

Es curioso, los únicos que defienden su permanencia a cualquier precio son un estado trilero fallido y "rescatado", dos estados que empiezan a tener algunos síntomas de la enfermedad que aflige a los griegos (con unas MN que no se van a deflactar con gusto) y 2/3 del stablishment europeo.

Francia e Italia no están peor en prácticamente ningún sentido que España, Portugal e Irlanda.