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Saturday, 18 April 2015

Greece, Updates: Money to Stream in with the Signing of the New Blue Stream Russian Gas Pipeline Project? Deposit (Loan) in Advance of Profits on Transit Fees



On the pipeline, Kathimerini

Bruegel: Redemptions, 2015

ECB Interview, Kathimerini - It's up to the Greek government to ensure deal with lenders, says ECB's Coeure

Update from Svenska Dagbladet - "Enligt ECB:s expertis på området skulle grekiska skuldväxlar kunna bli ett nytt betalningsmedel i Grekland och därmed ett möjligt skäl för att sparka ut landet ur eurozonen. Risken för en finansiell kollaps i Grekland har tryckt upp räntan på landets tioåriga statsobligationer till 12,8 procent. Det kan jämföras med nivåer under 6 procent för ett år sedan".

Update from Reuters

Update from Bloomberg

Update from Brookings

Paul Mason, Channel 4 News

Update from Telegraph - "Europe ready for Grexit contagion as Athens gets closer to Russian cash -
Mario Draghi sends warning shot that Greek threats to unleash mayhem will not give way to leniency"

Further update, Telegraph - "Greece orders raid on government coffers as cash dwindles -
Government issues a decree forcing all state bodies to transfer funds to the central bank"

Ta Nea - Με Πράξη Νομοθετικού Περιεχομένου τα διαθέσιμα δημόσιων φορέων και ΟΤΑ στην ΤτΕ

Mignatiou - “Βιαστείτε”, λέει ο Μοσκοβισί ευχόμενος “να παραμείνει η Ελλάδα στην Ευρωζώνη”

More from Mignatiou - “Το πάρτι τέλειωσε”

Bloomberg, The View of Mark Gilbert - "The hard-to-admit truth is that Greece seems both unwilling and unable to pay the dues that accompany euro membership".

Kathimerini - Greek municipalities outraged by state move to use funds

IMF Spring Meeting - General

Kathimerini -  "Greece bailout plan still lacking, ECB chief Mario Draghi says"

The reaction in Slovenia, iefimerida - Εμείς κάνουμε περικοπές και οι Ελληνες χρησιμοποιούν τα πακέτα βοήθειας για αυξήσεις

Financial Times: Chris Giles in Washington "How to deal with a problem child like Greece" -
"Everyone is deeply frustrated by the antics of Greece... childish tantrums" - Europeans cannot agree on how to treat the Greeks.


Previous:

From Mignatiou - Περιμένουν προκαταβολικό χρήμα για τον αγωγό από τη Ρωσία;

From enikos.gr:  Athens confirms Turkish Stream report - "Greek government sources confirmed the disclosure by "Agora" newspaper that the agreement between Moscow and Athens for the Turkish Stream pipeline could be signed as early as Monday. Government sources say that the deal could bring Greece an advance payment of up to 5 billion euros towards crossing fees through Greek territory".

Kathimerini - "Five billion euros from Russia in advance of transit fees"

Der Spiegel -  "Alles, was Griechenland hilft, ist gut"- 'Bundesfinanzminister Schäuble sagt, das freue ihn'.

More from Kathimerini - Wolfgang Schaeuble " I do not think that this would solve the problems Greece has in fulfilling the commitments of the memorandum of understanding (with its European partners)."

RT report - "Russia to loan Greece ‘up to $5bn’ to join Turkish pipeline - Figures quoted range from $3 billion to $5 billion".

Updated and revised posting from RT - "Moscow denies planning multibillion credit to Greece" - "On Saturday, the Russian president’s spokesman Dmitry Peskov said no such loan is planned.
“[Russian President Vladimir] Putin said himself during the media conference that nobody asked for our help. Naturally energy cooperation was discussed. Naturally, the parties of the high level talks agreed to work out all details of these issues at an expert level. Russia didn’t offer financial help because it was not asked,” the spokesman told the Russian radio station Business FM.
Problems solved, or not? The Greek Government always sounds optimistic. The story is still not clear, see also Keep Talking Greece - on a partial denial from Russia about the offer of credit or a loan; see also Mignatiou report.

It seems that the most sensitive and awkward point is whether Greek PM Tsipras asked Russia for help, and whether a loan/credit is involved, given President Putin's statement and other geopolitical/economic issues - and the implication that Greece might be off the hook.

Kathimerini - "Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring 3-5 billion euros into depleted government coffers, German magazine Der Spiegel reported, citing a senior figure in the ruling SYRIZA party....Spiegel, citing the Syriza official, reported that the Russian deal could be signed on Tuesday and yield an advance of between 3 and 5 billion euros. The official was quoted as saying the deal could «turn the page» for Greece".

Reuters: Update - "Russia denies German report it is ready to sign gas deal with Greece"

Reuters - Greece wants EU/IMF deal but impasse could bring referendum: deputy PM

in.gr report  - Διαψεύδει το Κρεμλίνο τα περί προκαταβολής για τον Turkish Stream

Telegraph report

Protagon: Yiannis Pantelakis - Το χρήμα που δεν έρχεται

The Economist report - "Greece has made little progress in detailing the privatisations and pension and labour-market reforms the EU has demanded. The Greeks’ persistent failure to provide accurate information about their government’s own financial position—first warning they might run out of money in February, then March, then April—has heightened the mistrust, according to people familiar with EU negotiations...This time, they say, the deadline is real".

BBC News - Greece would struggle to find creditors outside Europe, says Schaeuble

DW report

Bloomberg

Efthimia Efthimiou ‏@EfiEfthimiou  #Greece EnergyMin Lafazanis: There cannot be a deal with the neoliberal, neocolonial powers which rule EU & IMF (Tweet)

Efthimia Efthimiou ‏@EfiEfthimiou  #Greece Energy Min Lafazanis (intrvw w/ Real News) says creditors wish the submission and surrender of Greece (Tweet)

in.gr report from Liberation: Κόντρα στους ευρωπαϊκούς κανόνες η ελληνική λαϊκή βούληση;

Liberation: Draghi - Le président de la BCE Mario Draghi a assuré samedi que la réponse à la crise en Grèce était «dans les mains du gouvernement grec», ajoutant qu'«il faut beaucoup plus de travail et c’est urgent».

Also, Greece Versus Europe Cover and article:




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