LATEST ON GREECE. 2 REPORTS: EURO NEWS & AP (Associated
Press)
Compare these reports with lies & distortions in BBC & the US media
By Hugo Adan. July 3, 2015
2- THE DAY BEFORE
VOTE followed by AP reporters
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1. EUROnews.
Prime Minister Alexis Tsipras insisted on Thursday that
a ‘no’ vote in Sunday’s referendum would give him a
chance to negotiate a better outcome with the country’s lenders.
He made the promise in an interview with Greek TV, as voters
decided whether to accept the latest debt deal.
But Tsipras was forced to concede that a ‘yes’ vote would likely bring a
quick end to capital controls.
“If the ‘yes’ vote wins, the banks will open but with an
unviable deal. But if that is the decision of the Greek people – either from
fear, pressure or choice – we will respect it,” he told Greek TV.
“But if the ‘no’ vote wins, and the ‘no’ is stronger, I
assure you, the very next day I will be in Brussels and a deal will be signed,” Tsipras
added.
His comments came as European Parliament President Martin
Schultz called for Tsipras and his team to be replaced by a technocrat
government if Greeks voted ‘yes’.
The International Monetary Fund warned on Thursday that
Greece would not survive without massive debt relief and 50 billion euros in
new financing.
But IMF chief Christine Lagarde
reiterated that Athens wouldn’t get any special payment terms from them.
One analyst told the Associated Press news agency that most
lenders were uneasy at the prospect of debt relief.
“When the IMF calls for a debt relief it doesn’t include its
own lending. The European Central Bank has done the same exact thing. The ECB
is in favour of debt relief for Greece too, just not the debt that the ECB is
holding.” said Megan Greene, Chief Economist of Manulife Asset Management.
She added that Germany isn’t in favour of any debt relief.
As ATM queues grew longer on Thursday, Bloomberg reported
that Greek banks’ liquidity reserves would “probably only last until Monday”.
As much as the public feared cash shortages for household
expenses, business leaders said they needed emergency liquidity to prevent the
wider economy grinding to a halt.
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Which institutions own Greece's
debt
€ billion
Eurozone 193,8
Other bond holders 48,8
IMF 32,3
ECB 20,0
Greek banks 10,9
Other lenders 10,5
Sources: Open Europe, European Parliament, Bank of
Greece, Greek Ministry of Finance
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Eurozone members most exposed to
Greece’s debt
€ billion
Germany 56,473
France 42,409
Italy 37,267
Spain 24,763
Netherlands 11,893
Belgium 7,233
Austria 5,790
Finland 3,739
TOTAL
Source: Open Europe, IESEG
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Cost of Greek debt per person
In euros Apx+
The cost of the Greek debt for each person in most exposed countries in case of a total debt relief.
The cost of the Greek debt for each person in most exposed countries in case of a total debt relief.
700 Netherlands
600 Germany, Finland,
Austria, Belgium, France, Italy
500 Spain
400
300
200 Slovakia
100 Portugal
0
Sources: Open Europe, The
World Bank
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2- THE DAY BEFORE
VOTE followed by AP reporters
THE LATEST: GREEK PM URGES VOTERS TO IGNORE SCAREMONGERS. AP
ASSOCIATED PRESS Report
ATHENS, Greece (AP) -- The latest news on Greece's financial
woes and its upcoming referendum on Sunday (all times local):
10:50 p.m.
Greece's prime minister is urging citizens to vote
"no" in Sunday's austerity referendum and shun those who threaten the
country with economic ultimatums.
Alexis Tsipras told throngs of demonstrators at the main
"no" rally in Athens' central Syntagma Square Friday that the
referendum is not a choice about whether or not to stay in Europe, but a
decision about living "in Europe with dignity."
He said Greeks wants Europe to return to its core values
which it has sidelined for the sake of "dead-end" austerity programs.
Tsipras said Greece won't abandon Europe "in the hands
of those who want to drag her away from her democratic traditions."
He said Greeks "have justice on our side and we will
win," urging voters to ignore scaremongers and to remain united no matter
the outcome.
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9:00 p.m.
Police in Athens say about 25,000 people have gathered in
the capital's Syntagma Square for a rally supporting a "no" vote in
the upcoming referendum on whether to accept a new bailout deal.
Meanwhile, about 17,000 people gathered outside the nearby
Panathenian stadium for the "yes" rally, police said.
Friday was the last day of campaigning before Sunday's
referendum on whether Greece should accept creditors' demands for more
austerity in return for bailout loans.
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7:55 p.m.
Brief clashes have broken out between a group of youths and
police in the Greek capital's Syntagma Square just before the start of the main
"No" rally backed by Prime Minister Alexis Tsipras' government.
Greek police used pepper spray Friday evening to deter
several dozen anti-establishment protesters from throwing rocks and smashing
property in the big Athens square in front of parliament.
The `Yes' side was holding its rally just 800 meters away in
a different section of central Athens. Friday was the last day of campaigning
before Sunday's referendum on whether Greece should accept creditors' demands
for more austerity in return for bailout loans.
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7:50 p.m.
The leader of Greece's conservative main opposition party
says a "no" vote in Sunday's austerity referendum would drastically
weaken the country's negotiating position with its creditors.
Antonis Samaras said Friday that all of Europe would perceive
a "no" victory as a rejection of the euro currency itself - and that
would result in Greek banks staying shuttered even longer, despite the
government's vow they will open Tuesday.
Prime Minister Alexis Tsipras said earlier, however, that
Sunday's referendum was not a vote on whether Greece will remain in the
19-nation eurozone. Tsipras backs keeping the euro currency.
Samaras also rejected Tsipras' claim that a deal with
creditors could be hammered out within 48 hours after the referendum.
He called on Greeks to support a "yes" vote to
keep Greece inside the eurozone.
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7:25 p.m.
In a rare move, 16 former armed forces leaders of Greece have signed a joint
declaration calling on the Greek people to show "calm and national unity"
ahead of Sunday's referendum on
whether to accept creditors' demands for more austerity.
The letter said "Greece is at a highly critical moment
in its history that will require difficult and inevitably painful decisions ...
All Greeks, united and above party political lines and divisions, must help
with all means available to address this situation with calm and national
unity."
The letter was signed by three former chiefs of the armed
forces, nine ex-army chiefs, two former heads of the navy and two former heads
of the air force.
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7:15 p.m.
The Council of State, Greece's highest administrative court,
has rejected an appeal by two citizens asking for Greece's critical referendum
on austerity to be ruled unconstitutional. The vote will be held as planned on
Sunday.
Court president Nikos Sakellariou said Friday "the
referendum will proceed normally."
The reasoning behind the decision was expected to be issued
later in the day.
The two men had appealed to the court on the grounds that
Greece's constitution bars popular votes on fiscal issues. Greek voters are
being asked whether to accept creditors' demands for more austerity in return
for bailout loans.
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6:50 p.m.
A new opinion poll shows a dead heat in Greece's referendum
campaign with just two days to go before Sunday's vote on whether Greeks should
accept more austerity in return for bailout loans.
The ALCO survey for the newspaper Proto Thema gave the
"Yes" campaign a 0.6 point lead over the "No" vote in the
bailout referendum - well within the 3 percent margin of error. Of those
interviewed, 41.7 percent said they would vote yes and 41.1 percent intend to
vote no, with 10.7 percent undecided and the rest either casting blank ballots
or abstaining.
The survey, released Friday just ahead of the final campaign
rallies, also found that 76 percent of Greeks want to stay among the 19 nations
using the euro currency.
Asked whether holding the referendum was a good idea, 42
percent said yes while 48 percent said it was a mistake.
The poll was carried out July 1-3.
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5:55 p.m.
The eurozone's financial rescue fund - officially Greece's
largest creditor - says it considers the country to be in default, even though
Athens has not missed a repayment to the fund itself.
The European Financial Stability Fund said Friday it
considered Greece's failure to cover a 1.6 billion-euro ($1.8 billion)
repayment this week to the International Monetary Fund to be an
"Event of Default" that allows the EFSF to activate a loan repayment
demand. Fund CEO Klaus Regling says "this event of default is cause for
deep concern. It breaks the commitment made by Greece to honor its financial
obligations to all its creditors, and it opens the door to severe consequences
for the Greek economy and the Greek people."
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