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Athens News Agency: Daily News Bulletin in English, 15-07-09

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

Thursday, 9 July 2015 Issue No: 4995

CONTENTS

  • [01] PM Tsipras to Europarliament: Without growth agenda we will never exit from the crisis
  • [02] We want sustainable growth to return what we borrowed, Tsipras tells MEPs
  • [03] Tsipras to MEPs: It should be the right of a national gov't to decide equivalent measures
  • [04] Greek PM back in Athens, arrives at Maximos Mansion for government meeting
  • [05] PM Tsipras tells President Pavlopoulos Greece has submitted aid request to ESM
  • [06] European Council president Tusk: If someone believes that there will be no repercussions from a Grexit, is naive
  • [07] MEPs Papadimoulis and Marias to Weber: Stop insulting Greece and the Greek people
  • [08] Socialists-Democrats' Gianni Pitella says 'there is no Europe without Greece'
  • [09] To defend the Greeks today is to defend Europe's dignity, says PODEMOS MEP Iglesias to Europarliament
  • [10] PM Tsipras says government has submitted proposals for viable, fair agreement
  • [11] A viable solution is feasible, Greek government sources say, as preparations are under way for EU weekend meetings
  • [12] EU's Moscovici: 'A positive outcome in the negotiations with Greece is not far'
  • [13] Greece's bailout request to ESM referred to ECB, European Commission
  • [14] EU's Tusk, Juncker say deadline for Greek proposals is looming
  • [15] Merkel says EU expects Greek government's detailed proposals by Thursday
  • [16] German foreign ministry: Solution on Greece must be found by Sunday
  • [17] Grexit is not in Luxembourg presidency's priorities, says Xavier Bettel
  • [18] Five leading economists urge Merkel to make 'course correction' on Greece in open letter
  • [19] Alt. Social Insurance Minister: Government will not sign agreement that condemns the country and the people
  • [20] ND tables request for off-the-agenda parliamentary debate on negotiations
  • [21] Gov't sources criticise ND call for off-the-agenda debate on Wednesday
  • [22] ND leader Meimarakis called PM Tsipras to brief the parliament on the latest developments
  • [23] PASOK leader: PM must say yes to Europe
  • [24] Parliament passes laws on acquiring Greek nationality; roll-call vote on four articles pending
  • [25] Greek prosecutor proposes not to indict Golden Dawn MP for illicit recording of conversation
  • [26] ECB keeps ELA at same level, to reexamine on Monday
  • [27] Finance ministry dismisses reports of IOUs preparations
  • [28] EuroWorking Group will examine the Greek request to ESM
  • [29] Greece raises 1.625 bln euros from T-bill auction
  • [30] Greek trade deficit down 11.6 pct in Jan-May
  • [31] Mostly fair on Thursday
  • [32] The Wednesday edition of Athens' dailies at a glance Politics

  • [01] PM Tsipras to Europarliament: Without growth agenda we will never exit from the crisis

    Greek Prime Minister Alexis Tsipras in his address on Wednesday to the Europarliament plenum referred to the Greek government's proposal to the EU partners "Our proposal is a proposal that foresees credible reforms with criterion the just allocation of the burdens with the least possible recessionary repercussions" he said adding that "our request for sufficient coverage of the mid-term financing needs of the country with a powerful and front-loaded growth programme because if we do not set on the table the growth agenda we will never exit from the crisis" he said and explained "Our first priority is the fight against unemployment and the promotion of entrepreneurship and of course our proposal includes the request for an immediate commitment for a substantial dialogue to confront the problem of the Greek debt sustainability. There should not be any taboos. We must see the reality and to seek solutions in this reality, however difficult they are. Our proposal with these characteristics was tabled to the Eurogroup on Tuesday. Today we are sending a request to the European Support Mechanism. We assumed the responsibility to totally clarify our proposals in the next two days and I think we will meet the demands of this crucial situation".

    Moreover, the Greek prime minister underlined "The Greek government's proposals on the financing of its obligations and the debt restructuring do not aim to burden further the European tax payer. The money offered to Greece, and let's be honest, never reached the Greek people, they were money to save the Greek and European Banks, they never went to the Greeks.

    [02] We want sustainable growth to return what we borrowed, Tsipras tells MEPs

    Greece is striving for sustainable growth in order to return what it has borrowed, Greece's Prime Minister Alexis Tsipras told a special session of the European Parliament that he had addressed earlier on Wednesday, which discussed on the crisis in Greece.

    Replying to criticism levelled by MEPs, who chiefly focused on the burden shouldered by their own countries as a result of the Greek crisis, Tsipras underlined that he had no secret plan to exit the euro but only sought an agreement that was economically sustainable and socially just, precisely so that Greece might be able to return what it has borrowed.

    Expressing his "absolute respect" for the laws governing the EU and the Eurozone, he also quoted the ancient Greek dramatist Sophocles "who taught us that the greatest of all human laws is justice."

    "I want to reply to you honestly. Throughout the last week, the overwhelming majority of statements by European politicians and officials said that a 'No' in the referendum meant Greece's automatic exit from the euro. The citizens knew this when they went to vote. In spite of this, they returned a result that surprised everyone," Tsipras said.

    "If my goal had been to take Greece out of the euro, I would not then make statement and interpret the referendum result, not as a mandate for a rupture with Europe but as a mandate to redouble the negotiating effort to reach a better agreement, a more credible agreement, an agreement that is economically sustainable and socially just," he added.

    Replying to pointed criticism, Tsipras said that the most intense "rhetoric" was targeted against "our inability to respond to the order of the European partners."

    He noted that Greece's request for debt restructuring was also made so that the country might one day be in a position to return the loans and not be forever forced to take out new loans in order to service the previous ones.

    Addressing the head of the European People's Party (EPP) Parliamentary Group Martin Weber, Tsipras stressed that the "most important moment of solidarity in modern European history was in 1953, when your country emerged deeply in debt and looted by two world wars - and in Europe, the European peoples, showed the greatest solidarity at the London Conference in 1953, when they decided to write-off 60 pct of Germany's debt, as well as growth clauses."

    "Everyone understands that the discussion is not exclusively about one country but concerns the future of our common construct, the eurozone and Europe," Tsipras stressed, saying that the conflict was between two diametrically opposed strategies for its future and calling on all sides to assume their share of responsibility.

    The Greece's prime minister pointed out that the discussion in the European Parliament should have been held much earlier, instead of holding negotiations behind closed doors as in the last five months. He echoed the concerns expressed by other speakers, who had called for the involvement of the European Parliament in the decision-making process, in addition to the other EU institutions.

    He stressed that if the negotiation had been between the Greek side and the European Commission, a solution would have been found long ago. Instead, the negotiation was between the Greek side and three different institutions that often had conflicting views and proposals.

    Tsipras rejected criticism that the Greek side had failed to present proposals, saying it had submitted a 47-page plan that was the result of lengthy and painful negotiations and had returned with a document of proposals accepted as a basis for discussion by the institutions.

    At the same time, he said Greece retained the right to decide how fiscal targets should be met. Trying to dictate to Greece the specific measures it should take was a direct interference with the sovereign rights of national governments, he sad.

    "It is the sovereign right of a government to choose whether to increase taxation on profit-making businesses and to not cut the benefits to the lowest pensions, the EKAS, in order to meet fiscal targets," Tsipras told European lawmakers. "If it is not the right of a sovereign government to choose in what way it will find equivalent measures to cover the required targets, then we must adopt an extreme and anti-democratic view. That in the countries that are in a programme there must be no elections. That governments must be appointed, technocrats must be appointed and that they assume responsibility for the decisions."

    Tsipras repeated his government's commitment to carrying out reforms, including in areas such as early pensions, but wanted the right to choose how the burden of the measures would be distributed.

    Replying to the head of the Alliance of Liberals and Democrats for Europe (ALDE) bloc Guy Verhofstadt, the Greek prime minister admitted that his government's focus in the last five months had been more on the negotiations than the vital reforms that Greece needs.

    In conditions of financial asphyxiation, he said, its primary concern was more on keeping the real economy on its feet. He rejected that his government had not taken steps to combat corruption and other endemic problems, pointing out that it was the first to properly investigate the 'Lagarde list' or to sign an agreement with Switzerland forcing Greeks who had sent their money abroad to pay taxes.

    He also pointed to a drive to prosecute many that were guilty of tax evasion and laws to restrict triangular transactions for fake VAT rebates, as well as boosting customs controls to stamp out contraband trade.

    [03] Tsipras to MEPs: It should be the right of a national gov't to decide equivalent measures

    Trying to dictate to Greece the specific measures it should take in order to meet fiscal targets was an interference with the sovereign rights of national governments, Greek Prime Minister Alexis Tsipras commented on Wednesday, while addressing the European Parliament.

    "It is the sovereign right of a government to choose whether to increase taxation on profit-making businesses and to not cut the benefits to the lowest pensions, the EKAS, in order to meet fiscal targets," Tsipras told European lawmakers. "If it is not the right of a sovereign government to choose in what way it will find equivalent measures to cover the required targets, then we must adopt an extreme and anti-democratic view. That in the countries that are in a programme there must be no elections. That governments must be appointed, technocrats must be appointed and that they assume responsibility for the decisions."

    [04] Greek PM back in Athens, arrives at Maximos Mansion for government meeting

    Greece's Prime Minister Alexis Tsipras, returning from the European Parliament in Strasbourg late on Wednesday evening, arrived at the Maximos Mansion government headquarters in Athens shortly before 20:00 local time, where he is to have a meeting with close aides and government members.

    [05] PM Tsipras tells President Pavlopoulos Greece has submitted aid request to ESM

    Prime Minister Alexis Tsipras told President Prokopis Pavlopoulos that Greece submitted on Wednesday a request for aid at the European Stability Mechanism (ESM) during their meeting at the Presidential Mansion.

    He also said the Greek government will submit on Thursday detailed and credible reforms to reach an honest compromise. "This is our aim and this is our effort for a viable solution and an exit from the crisis," he said.

    On his side, Pavlopoulos noted three events that took place today: The debate at the European Parliament, the exhortation of the European Parliament President Martin Schulz that Greece's stay in the Eurozone should not be challenged because the consequences would be unpredictable and that the country's proposal should be balanced.

    [06] European Council president Tusk: If someone believes that there will be no repercussions from a Grexit, is naive

    STRASBOURG (ANA-MPA/ O. Tsipira)

    "Two weeks ago we believed that a deal was possible. Today, we see that we do not have time to build the trust but it is necessary to proceed and leave the past behind us" stated to the Europarliament plenum the president of the European Council Donald Tusk on Wednesday.

    "Yesterday (Tuesday) we had an honest exchange of view over the prevailing conditions. We asked from Alexis Tsipras (Greek prime minister) to state his views on a viable growth in Greece. The European Council will discuss the Greek request for assistance from the ESM" said Tusk.

    All sides are responsible for today's condition and I call from all consensus without winners and losers. If this is not achieved it will mean the end of the negotiations.

    Our inability to agree may lead to Greece and to its banking system bankruptcy and it is certain that it will be painful for the Greek people. That will have repercussions and in Europe and geopolitically and if someone has illusions that there will not be any repercussions, he is naive.

    We are all co-responsible. This week is the last deadline. As Plutarch said it is easy to put the blame on someone but to correct the problem is more difficult. I hope our correction to be easier than what Plutarch said, concluded Tusk.

    [07] MEPs Papadimoulis and Marias to Weber: Stop insulting Greece and the Greek people

    STRASBOURG (ANA-MPA/ O. Tsipira)

    Europarliament Vice President and SYRIZA eurodeputy Dimitris Papadimoulis in his intervention to the Europarliament on Wednesday stated among others "A European Union without Greece is like a child without birth certificate".

    Referring to the head of the EPP group Manfred Weber he asked him to stop "insulting Greece and the Greek people and to stop playing with matches in a warehouse with explosives".

    "My country does not need to 'escape' from Europe but a solution with European characteristics" and called on everyone to work towards this directions.

    On his part Independent Greeks MEP Notis Marias sternly attacked Weber charging him for anti-Greek delirium. "You should firstly say to Mr. Merkel to pay the war reparations to Greece and afterwards you can speak for dignity. You know that the memorandum failed in Greece...In the five years of the memorandum Greece received 214 bln loans and has 1 and a half million unemployed and 40 pct of the population below the poverty line. Where went the money Mr. Weber and why you do not say that they went to the rescue of the German banks."

    [08] Socialists-Democrats' Gianni Pitella says 'there is no Europe without Greece'

    STRASBOURG (ANA-MPA/ O. Tsipira)

    Coming out strongly in support of Greece's positions during a debate held in the European Parliament on Wednesday, the head of the Progressive Alliance of Socialists and Democrats Gianni Pittella stressed that for Europe's socialists "there is no Europe without Greece," and that they "will never accept a Grexit".

    The speech delivered by the head of the EuroParliament's second-largest bloc was the virtual opposite of that by the Christian-Democrats leader Martin Weber, who represented the largest bloc in the European Parliament.

    "Greece is an integral part of Europe and the eurozone," Pittella said. "Without Greece in the eurozone, Europe will not be the same and for this reason we will continue to oppose the extremists and the political opportunists that are playing with the future of Greece and Europe."

    He stressed that the situation was critical and underlined the need to "not divide the institutional organs of the Union but unite them, because... the future of Europe is at stake, within which is Greece."

    Addressing European Council President Donald Tusk, he formally requested that the European Parliament also participate in the Council sessions, asking him to invite European Parliament President Martin Schulz.

    [09] To defend the Greeks today is to defend Europe's dignity, says PODEMOS MEP Iglesias to Europarliament

    STRASBOURG (ANA-MPA/ O. Tsipira)

    Spanish Podemos party leader and MEP Pablo Iglesias in his address to the European parliament on Wednesday said that "times change" and call from the Socialists to change tactics.

    "Europe is not destroyed because there are citizens that say in a referendum that they do not agree with the austerity and adjustment policies imposed by the troika and the IMF" he said adding "Europe is not destroyed because there are governments that have the courage to ask their people what they think. What is destroying Europe is the capital's totalitarianism and the arrogance of the German government. What destroys Europe is the inability of country leaders to defend their citizens. I make a plea to the Socialists. Take the step needed for the social rights and leave this cursed big alliance that leads us to the catastrophe. To defend the Greeks and their government's today is to defend Europe's dignity. Times change and very soon we will be the powerful" concluded Iglesias.

    [10] PM Tsipras says government has submitted proposals for viable, fair agreement

    BRUSSELS (ANA-MPA/Ch. Vasilaki)

    Prime Minister Alexis Tsipras said the Greek government submitted on Tuesday proposals for a viable and just agreement with the country's lenders and a deal is expected by the end of the week.

    Speaking to journalists following the end of the summit meeting in Brussels, the premier said the proposals are the result of the political leaders' meeting on Monday for a deal "which is socially just and economically viable for Greece and the eurozone."

    He also said the Greek plan includes credible reforms, as well as a pledge for sufficient coverage of the country's funding needs in the medium-term, a strong investment package to deal with big problems like unemployment and a start of talks on debt restructuring.

    "The talks took place in a positive climate, the process will be swift, it starts in the next few hours and aims at concluding by the end of the week at the latest," he said.

    He continued to explain that Greece will continue its efforts having the people's mandate as a weapon and the will of the majority of Greeks for a viable solution which will end the Grexit discussion once and for all.

    "I'm happy to say that in the statements of my counterparts I saw that they all understood we don't have a Greek problem but a European problem which we're all called to provide a solution for," he concluded.

    [11] A viable solution is feasible, Greek government sources say, as preparations are under way for EU weekend meetings

    A viable solution to the Greek economic crisis is feasible, government sources said early on Wednesday, underlining the importance of meetings scheduled this weekend, especially a summit meeting of European leaders in Brussels on Sunday.

    According to a statement released by the sources,

    "1. The EU summit meeting on Tuesday was briefed about the [Greek government's] proposal, which essentially comprises the "common ground" that takes into consideration the result of the referendum, the joint positions of political party leaders and the proposals of the institutions [as Greece's lenders are known].

    2. The referendum, by responsibility of specific systems, was carried out on the question of "euro or drachma". These [systems] went as far as to claim that if the voting result was "No", the country would automatically exit the eurozone and would assume the drachma as its currency! This is not true today. Everyone is talking about whether a solution will be found, what the solution will be and when it will be finalised.

    3. The statement by [European Council President] Donald Tusk is characteristic of the climate prevailing during the talks which does not relate to Greece alone. He made explicit references to the wider geopolitical repercussions a break [from the EU] would have, terming those who do not understand this 'naive'.

    4. The proposal which was rejected by the referendum foresaw a package of prior actions for funding of five months only, followed by new prior actions, while there was no forecast for the debt.

    5. Today [Wednesday] what is being discussed is a Greek proposal for a two-year programme with joint prior actions - which will not need to be changed or added to, every so often - while the issues of the debt [viability], the growth package, and, of course, the funding of the programme, were put on the table.

    6. A viable solution is, at last, feasible, and everything will be decided upon on the coming weekend. It should be noted that there are fierce reactions from countries which were negative from the start.

    7. European leaders will meet again on Sunday."

    [12] EU's Moscovici: 'A positive outcome in the negotiations with Greece is not far'

    BRUSSELS (ANA-MPA/M. Spinthourakis)

    The ongoing negotiations between Greece and its lenders have borne fruit and there will soon be a positive outcome, European Commissioner for Economic Affairs Pierre Moscovici said in an exclusive interview with ANA-MPA published on Wednesday.

    "The Greek side now joining the negotiations with a positive and constructive spirit," the EU official said, adding that the situation of the Greek banking system could normalize after an agreement has been achieved.

    The full text of the interview is the following:

    - Commissioner, millions of Greeks have not had access to their banking accounts for days. When and under what circumstances will banks reopen in Greece?

    M: The main issue is to achieve an agreement on Sunday. I think it is necessary and feasible. An agreement that ensures Greece's stay in the Eurozone and leads to growth for the Greek economy, with justice and solidarity.

    - In order to have a positive outcome in the negotiations we will have to agree on a list of reforms. Does the last Juncker proposal constitute the basis for reaching agreement?

    M: The first thing I want to stress is that thankfully, the climate between Greece and the Eurozone has significantly improved. We saw yesterday in Brussels, both in the ministerial meeting as well as the summit meeting that the Greek side is now joining the negotiations with a positive and constructive spirit. Now two steps are needed: the first has already taken place and it is the official request for an economic aid programme by the ESM.

    The second is for Greece to submit a credible and serious list of reforms which will have a long-term character and will allow us to talk on specific issues. In the meantime, of course, we'll have to find the necessary resources to deal with emergency problems.

    - Why are there so many problems in drawing up the list of reforms?

    M: It wouldn't be right to say that negotiations in the past five months have not yielded any results. Today, we recognize which are the reforms that are demanded for the Greek economy. They concern Justice, taxation and the pension system. The Greek government is aware of reality and it is up to them to take decisions. The aim of the reforms should be to strengthen Greek economy which will have to become more attractive to investors, while humanitarian crisis issues must also be dealt with.

    Today, we are not demanding new austerity measures from Greece; we demand serious reforms with the aim of creating a credible economy. However, we're not far from an agreement. Negotiations so far have been fruitful.

    -What about restructuring the Greek debt?

    M: What is urgent is to find an agreement on the reforms and the future funding of the Greek economy. The issue of Greek public debt will be examined at the right time. It's not only the IMF which worries about the Greek debt: We worry at the European Commission; they worry in Frankfurt, at the European Central Bank. The Commission wants to play the role of the role of the intermediary in the negotiations for Greece's loans with the other countries of the eurozone. With their vote on Sunday, Greeks sent a message but did not turn their backs on Europe. Therefore Europe must not turn its back on Greece.

    - The closure of Greek banks entails a cost to the Greek economy. Are there any estimates on the size of the damage?

    M: Every day that goes by has a cost for the Greek economy and makes things harder. There's no more time to waste.

    - Should there be wage and pension cuts?

    M: We need reforms. We're not discussing wage and pension cuts. But we do ask for a pension system reform.

    - Has the European Commission prepared action plans for a possible Greek exit from the Eurozone?

    M: The Commission must be prepared for any eventuality. It's a matter of responsibility. However, it is clear that for us the basic scenario was and is Greece's stay in the Eurozone. We must all work towards this direction. After yesterday's political discussions, I have concluded that they respond now to the gravity of the situation and to what's at stake.

    - There's a sense that referendums are not particularly popular in Brussels. Is that true?

    M: We must always support the result of a ballot, but we also have to draw the right conclusions. In the case of Greece, there's not much time left. Prime Minister Alexis Tsipras wants to find a compromise with his lenders. Yesterday's discussion was complicated because things are complicated.

    - Do you agree with the view of Giscar D'Estaign, who proposed a temporary exit of Greece from the Eurozone?

    M: No I don't and I'm fighting to avoid such an event.

    - In the past few years, the cumulative recession in Greece has reached 25 pct. How's responsible for this?

    M: Responsibility is undoubtedly shared. What is important now is to turn a page.

    [13] Greece's bailout request to ESM referred to ECB, European Commission

    Eurogroup President Jeroen Dijsselbloem on Wednesday referred Greece's official request for financial assistance from the European Stability Mechanism (ESM) to the European Central Bank (ECB) and the European Commission.

    In a letter addressed to European Commissioner for Economic and Monetary Affairs Pierre Moscovici and ECB President Mario Draghi, Dijsselbloem informs them of Greece's request for "stability support in the form of a loan" and asks them to assess the request under ESM rules.

    Dijsselbloem asks them to undertake to: a) assess the existence of a risk to the financial stability of the euro area as a whole or to its member-states b) to assess, together with the International Monetary Fund (IMF), whether Greece's public debt is sustainable c) to assess Greece's actual or potential financing needs

    He ends the letter by saying that their assessments, along with the proposal of the ESM Managing Director, will form the basis of the decision that will be taken by the ESM Board of Governors, where Dijsselbloem serves as Chairperson.

    [14] EU's Tusk, Juncker say deadline for Greek proposals is looming

    BRUSSELS (ANA-MPA/Ch. Vasilaki, M. Spinthourakis)

    European Council President Donald Tusk said on Tuesday the Greek Prime Minister Alexis Tsipras will submit on July 9 a request for a new programme which will be accompanied by terms and conditions.

    Tusk noted that the EU's summit meeting will convene next Sunday to decide on Greece, adding that the satiation "is extremely serious and nothing is excluded", while he also mentioned the need for humanitarian assistance to Greece.

    He said talks will take place at an EU level while he didn't exclude talks on a Eurozone summit level.

    On his side, European Commission President Jean-Claude Juncker stressed that Greek proposals must be submitted by Friday morning, while adding that "no eventuality is excluded." He said he's not in favour of a Greek exit from the Eurozone, but noted that everything will depend on those proposals.

    "Greece is rather isolated. Friday is the most crucial day. I don't exclude a Grexit," he stated bluntly.

    Commenting on restructuring Greek debt, he said the issue may be discussed in October.

    [15] Merkel says EU expects Greek government's detailed proposals by Thursday

    BRUSSELS (ANA-MPA/M. Aroni)

    German Chancellor Angela Merkel said on Tuesday she hopes to receive from Greece adequate proposals for promoting reforms until Thursday, so that she can ask the German parliament to approve the restart of negotiations on a new, long-term support program of the Greek economy.

    She said Greece needs a new programme through the ESM, noting that only a few days of discussions remain to decide on what needs to be done.

    Merkel stressed that she respects the result of the Greek referendum but reminded that there are another 18 member-states in the Eurozone.

    Commenting on the ongoing negotiations, the German Chancellor said they expect the Greek government to submit detailed proposals by Thursday with reforms which will accompany the disbursements from the ESM. She said the proposals will allow the restart of the negotiations with the institutions for the new bailout programme. These proposals, she also said, will have to include more commitments than Greece's second programme which was never completed.

    Earlier, Italian Prime Minister Matteo Renzi announced that a new summit meeting is planned for July 12 (Sunday), while he expressed hope that this will be the last meeting of leaders on Greece.

    Commenting after the summit meeting, Renzi said he hopes for a "happy end".

    [16] German foreign ministry: Solution on Greece must be found by Sunday

    BERLIN (ANA-MPA/ F. Karaviti)

    A solution on the problem of Greece must be found by Sunday, German finance ministry spokesman Martin Jaeger said on Wednesday, when asked if the introduction of a parallel currency in Greece was being considered.

    "Yesterday it was made clear that, if there is no solution by Sunday, then we may have to think of other scenarios," Jaeger said.

    The spokesman said that the German finance ministry was following developments and that the issue was now Greece's application for financial aid from the European Stability Mechanism (ESM).

    Asked if the German government had a plan for a possible Grexit, Jaeger noted that the German government was prepared for every development and "waiting calmly for the developments of the next few days."

    He repeated that Germany sees no need for a haircut of Greece's debt or other measures that would reduce the value of the loans, noting that German Chancellor Angela Merkel has clearly stated that there is "absolutely no basis for such a discussion."

    [17] Grexit is not in Luxembourg presidency's priorities, says Xavier Bettel

    STRASBOURG (ANA-MPA/ O. Tsipira)

    Grexit is not in Luxembourg presidency's priorities, stated Luxembourg's prime minister Xavier Bettel on Wednesday morning at the presentation of the priorities of the country that assumes EU presidency to the European parliament plenum in Strasbourg.

    Additionally he expressed his disappointment over Greece's non-submission of written proposals at the EU Summit on Tuesday.

    [18] Five leading economists urge Merkel to make 'course correction' on Greece in open letter

    Five leading economists have sent an open letter to German Chancellor Angela Merkel, warning her that "history will remember her for her actions this week" in relation to her handling of the crisis in Greece.

    The letter, sent on Tuesday and signed by Thomas Piketty, Jeffrey Sachs, Heiner Flassbeck, Dani Rodrik and Simon Wren-Lewis, stresses that the "never-ending austerity that Europe is force-feeding the Greek people is simply not working."

    "Now Greece has loudly said no more," they add, referring to the Greek referendum.

    The full letter is given below:

    "The never-ending austerity that Europe is force-feeding the Greek people is simply not working. Now Greece has loudly said no more.

    Global campaign group Avaaz organized this open letter to Angela Merkel on the back of a petition, signed by over half a million Europeans, demanding an end to the failed austerity program in Greece.

    As most of the world knew it would, the financial demands made by Europe have crushed the Greek economy, led to mass unemployment, a collapse of the banking system, made the external debt crisis far worse, with the debt problem escalating to an unpayable 175 percent of GDP. The economy now lies broken with tax receipts nose-diving, output and employment depressed, and businesses starved of capital.

    The humanitarian impact has been colossal?40 percent of children now live in poverty, infant mortality is sky-rocketing and youth unemployment is close to 50 percent. Corruption, tax evasion and bad accounting by previous Greek governments helped create the debt problem. The Greeks have complied with much of German Chancellor Angela Merkel's call for austerity?cut salaries, cut government spending, slashed pensions, privatised and deregulated, and raised taxes. But in recent years the series of so-called adjustment programs inflicted on the likes of Greece has served only to make a Great Depression the likes of which have been unseen in Europe since 1929-1933. The medicine prescribed by the German Finance Ministry and Brussels has bled the patient, not cured the disease.

    Together we urge Chancellor Merkel and the Troika to consider a course correction, to avoid further disaster and enable Greece to remain in the eurozone. Right now, the Greek government is being asked to put a gun to its head and pull the trigger. Sadly, the bullet will not only kill off Greece's future in Europe. The collateral damage will kill the Eurozone as a beacon of hope, democracy and prosperity, and could lead to far-reaching economic consequences across the world.

    "Right now, the Greek government is being asked to put a gun to its head and pull the trigger."?Piketty, et al.

    In the 1950s, Europe was founded on the forgiveness of past debts, notably Germany's, which generated a massive contribution to post-war economic growth and peace. Today we need to restructure and reduce Greek debt, give the economy breathing room to recover, and allow Greece to pay off a reduced burden of debt over a long period of time. Now is the time for a humane rethink of the punitive and failed program of austerity of recent years and to agree to a major reduction of Greece's debts in conjunction with much needed reforms in Greece.

    To Chancellor Merkel our message is clear; we urge you to take this vital action of leadership for Greece and Germany, and also for the world. History will remember you for your actions this week. We expect and count on you to provide the bold and generous steps towards Greece that will serve Europe for generations to come.

    Sincerely,

    Heiner Flassbeck, former State Secretary in the German Federal Ministry of Finance - Thomas Piketty, Professor of Economics at the Paris School of Economics - Jeffrey D. Sachs, Professor of Sustainable Development, Professor of Health Policy and Management, and Director of the Earth Institute at Columbia University - Dani Rodrik, Ford Foundation Professor of International Political Economy, Harvard Kennedy School - Simon Wren-Lewis, Professor of Economic Policy, Blavatnik School of Government, University of Oxford"

    [19] Alt. Social Insurance Minister: Government will not sign agreement that condemns the country and the people

    The Greek government's determination to proceed with the negotiation in order to close a deal based on the people's mandate and its decision in Sunday's referendum, underlined on Wednesday Alternate Social Insurance Minister Dimitris Stratoulis speaking to private ANT1 TV.

    According to Stratoulis, the government's position for agreement moves in three axes: To not foresee recessionary measures as cuts in salaries and pensions, to foresee measures for development and to include a clear commitment for the relief of the Greek debt. "There is not return" and the government will not sign an agreement that will condemn the country and the people. He did not hesitate to say that in case the partners continue their blackmailing tactic there are alternative solutions for Greece.

    Stratoulis underlined that there is no legal framework that allows to our partners to kick us out of the eurozone or from the European Union and remained adamant that the government will not step back on major issues because if it was in the government's intentions it would not wait five month to do it.

    [20] ND tables request for off-the-agenda parliamentary debate on negotiations

    Main opposition New Democracy on Wednesday tabled a request for an off-the-agenda debate in Parliament to brief MPs on the progress of the negotiations with Greece's creditors.

    [21] Gov't sources criticise ND call for off-the-agenda debate on Wednesday

    Government sources criticised a request for an off-the-agenda debate in Parliament on Wednesday night, submitted earlier by main opposition New Democracy, pointing out that the party's acting president Vangelis Meimarakis made the request "when he knew that the prime minister will return from Strasbourg late at night."

    They pointed out that the prime minister has repeatedly attempted to reach Meimarakis on the telephone on Wednesday in order to brief him and to meet with him but the latter had failed to reply.

    "Let him not follow the example of Antonis Samaras," the same sources commented. Even though he may have come under criticism from within his own party after the political party leaders' meeting, the same sources said, it was inconceivable that he should "proceed with communication-style initiatives at the most critical moment in the negotiations."

    ND earlier tabled a motion for an off-the-agenda debate on Wednesday night to brief Parliament on the progress in the negotiations.

    [22] ND leader Meimarakis called PM Tsipras to brief the parliament on the latest developments

    Main opposition New Democracy (ND) leader Evangelos Meimarakis called Prime Minister Alexis Tsipras to brief the parliament on Wednesday night on the course of the negotiations.

    Meimarakis clarified that he will not participate in a behind closed doors political leaders' meeting before Tsipras has briefed the Greek people and the Greek parliament.

    Moreover, he said that on Wednesday night he had a contact with President of Republic Prokopis Pavlopoulos and informed him on everyone's responsibilities.

    [23] PASOK leader: PM must say yes to Europe

    PASOK leader Fofi Gennimata on Wednesday stated that "Prime Minister Alexis Tsipras has one and only choice, one and only mandate, one and only way. To say the big YES to Europe and to the eurozone. To table a complete proposal for a redemptive agreement" she said.

    [24] Parliament passes laws on acquiring Greek nationality; roll-call vote on four articles pending

    The Greek Parliament on Wednesday passed the greater part of a ground-breaking law on acquiring Greek nationality, which opens the way for migrants to become naturalised Greek citizens. A vote is still pending on four articles in the draft bill, including article 1b, where far-right Golden Dawn demanded a roll-call vote.

    Parliament is expected to vote on the remaining four articles (1b, 7, 8 and 10) on Thursday.

    Alternate Migration Policy Minister Tasia Christodoulopoulou on Wednesday described the Greek Parliament's vote as "emblematic" at a critical time, "when Greeks were striving to be heard in Europe as citizens, whether they voted 'yes' or whether they voted 'no' [in Sunday's referendum]."

    "We want to be a part of Europe and do not desire our exclusion," Christodoulopoulou underlined.

    Golden Dawn initially asked for a roll-call vote on article 1 but this was then split into articles 1a and 1b and the first half, concerning the acquisition of nationality by migrants living in the country, was passed.

    The second half, 1b, regulates provision of nationality to children that are second-generation migrants born in Greece. The ruling coalition leader SYRIZA, opposition Potami, PASOK and the Communist Party of Greece (KKE) are expected to vote in favour, while main opposition New Democracy, junior coalition member ANEL and GD are to vote against.

    Also attached as riders to the draft bill were amendments for the payment of hospital expenses and for changes in senior public-sector administrations without compensation, as well as funds to asylum services and management of related programmes and two amendments tabled by MPs.

    [25] Greek prosecutor proposes not to indict Golden Dawn MP for illicit recording of conversation

    A public prosecutor recommended to the Council of Appeals on Wednesday not to indict Golden Dawn MP Ilias Kasidiaris over the illicit recording in 2013 of a conversation with the then New Democracy cabinet secretary Panagiotis Baltakos, during which they discussed a judicial investigation into the party's alleged criminal activities.

    According to the 32-page psoposal of the prosecutor Antonis Liogas, the disputed conversation concerned issues of public interest which could be the subject of a briefing of public opinion.

    "The disputed conversation took place in the staff office of the government's Secretary General with the door was open and the entry of third parties was allowed. It did not infringe on or even mention a person's private life," the prosecutor said.

    "On the contrary, it was a primarily professional-political debate that took place in the framework of the official duties by Takis Baltakos as general secretary of the government and which, because of the nature and type of these duties, is subject to scrutiny and criticism," he concluded.

    Financial News

    [26] ECB keeps ELA at same level, to reexamine on Monday

    The European Central Bank (ECB) on Wednesday decided to keep the Emergency Liquidity Assistance (ELA) for Greek banks frozen at the same level as on June 26, namely 89 billion euros, without raising or lowering it further, according to sources.

    The ECB board will re-examine liquidity conditions for Greek banks next Monday, the same sources said, noting that this was adequate to cover the banking system's needs until next Monday with the existing capital controls and withdrawal restrictions in place.

    [27] Finance ministry dismisses reports of IOUs preparations

    Greek Finance ministry on Wednesday categorically dismissed press reports alleging that the government was preparing to issue IOUs to pay for wages and pensions.

    A Finance ministry statement said that this kind of reports were undermining the country and were considered to be dangerous in a period when negotiations with its partners were at a critical point. "There were several similar press reports recently which were dismissed by the facts," the ministry said.

    [28] EuroWorking Group will examine the Greek request to ESM

    BRUSSELS (ANA-MPA/ M. Aroni)

    The representative of Eurogroup president Jeroen Dijsselbloem Michel Reijns announced via twitter that the Greek governent's request for financial aid from the European Stability Mechanism (ESM) will be examined by the Euro Working Group and not from the Eurogroup.

    The same representative explained to ANA-MPA that the Greek request can be examined by the EWG and there is not need for a Eurogroup teleconference.

    [29] Greece raises 1.625 bln euros from T-bill auction

    Greece on Wednesday successfully auctioned a six-month Treasury bill issues raising 1.625 billion euros from the market. The interest rate of the issue was unchanged at 2.97 pct, while the asked sum was 1.3 times oversubscribed. Bids submitted totalled 1.625 billion euros. The auction was made with the market's primary dealers and settlement date was set for Friday, 10 July. Greek authorities will also accept non-competitive bids up to 30 pct of the asked sum by Thursday, 9 July.

    [30] Greek trade deficit down 11.6 pct in Jan-May

    The Greek trade deficit shrank by 24.2 pct in May as imports fell drastically in the month, pushing the country's trade deficit 11.6 pct lower in the January-May period, Hellenic Statistical Authority said on Wednesday.

    The statistics service, in a report, said that the value of import-arrivals totaled 3.583 billion euros in May, from 4.0 billion in the same month last year, for a decline of 10.4 pct (excluding oil products the value of imports grew by 151.3 million euros or 5.8 pct).

    The value of export-deliveries totaled 2.280 billion euros in May, down 0.04 pct from the same month last year (excluding oil products the value of exports grew 4.9 pct).

    The country's trade deficit was 1.303 billion euros in May, from 1.719 billion in May 2014, a decline of 24.2 pct (excluding oil products the trade deficit grew by 7.0 pct).

    In the January-May period, the value of imports totaled 18.447 billion euros, from 19.454 billion in the corresponding period in 2014, a decline of 5.2 pct (excluding oil products the trade deficit grew by 2.9 pct).

    The value of exports totaled 10.733 billion euros in the five-month period, from 10.730 billion euros last year, an increase of 0.02 pct (excluding oil products the value of exports grew 12.6 pct).

    The trade deficit totaled 7.714 billion euros in the five-month period, from 8.724 billion last year, a decline of 11.6 pct (excluding oil products the trade deficit fell by 7.0 pct).

    Weather forecast

    [31] Mostly fair on Thursday

    Mostly fair weather and winds from variable directions are forecast for Thursday. Wind velocity will reach 5 on the Beaufort scale. Scattered clouds in the northern and the western parts of the country with temperatures ranging from 20C-36C. Mostly fair in the eastern parts with temperatures between 21C-37C. Sunny over the Aegean islands and Crete, 22C-34C. Fair in Athens, 24C-36C. Mostly fair in Thessaloniki, 23C-35C.

    [32] The Wednesday edition of Athens' dailies at a glance

    AVGHI: 5-day race for final solution.

    DIMOKRATIA: We are still alive

    EFIMERIDA TON SYNTAKTON: They (Greece's lenders) want unconditional surrender.

    ELEFTHEROS TYPOS: Greece SOS.

    ESTIA: Greece to table request for financing on Wednesday.

    ETHNOS: Agreement or Grexit.

    IMERISSIA: Decision for agreement or Grexit on Sunday.

    KATHIMERINI: Euro or drachma on Sunday

    KONTRA NEWS: Alexis (Tsipras, prime minister) will win the battle and in Europe.

    NAFTEMPORIKI: Memorandum or Grexit

    RIZOSPASTIS: Call for struggle against the new antipopular memorandums.

    TA NEA: French coffee for agreement.

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