JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER.
1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)
OTHER GREECE STORIES
http://israndjer.blogspot.ca/2015/07/cosby-accuser-asks-to-have-complete.html
DANIEL 7:23-25
23 Thus he said, The fourth beast (EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADING BLOCKS-10 WORLD REGIONS/TRADE BLOCS)
24 And the ten horns out of this kingdom are ten kings(10 NATIONS-10 WORLD DIVISION WORLD GOVERNMENT) that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.(THE EU (EUROPEAN UNION) TAKES OVER IRAQ WHICH HAS SPLIT INTO 3-SUNNI-KURD-SHIA PARTS-AND THE REVIVED ROMAN EMPIRE IS BROUGHT BACK TOGETHER-THE TWO LEGS OF DANIEL WESTERN LEG AND THE ISLAMIC LEG COMBINED AS 1)
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
GREECE-THE EUROZONE FANTASY
http://www.infowars.com/why-greece-is-the-precursor-to-the-next-global-debt-crisis/
UPDATED JULY 13,2015-01:00PM
AFTER 17 HOURS.THE ECB-EUROZONE GROUP LAID OUT THE PLANS FOR GREECES SERVIVAL IN THE 19 MEMBER EUROZONE.THE CUTS ARE HARSH.AND GREECE MUST PUT THEM IN THE LAW BOOKS.SO IF GREECE DOES NOT PAY.THEY WILL LOSE BANKS OR PROPERTY TO THE CREDITERS.AND THE ECB AND EUROZONE WILL THEN CONTROL GREECE.
Euro summit reach unanimous agreement on Greek bailout-By EUOBSERVER-JULY 13,15
Today, 09:03-Eurozone leaders "unanimously reached an agreement" Monday morning after a 16-hour summit, European Council president Donad Tusk wrote on Twitter. "All ready to go for ESM programme for Greece with serious reforms & financial support," he added, referring to the Europeann Stability Mechanism, the eurozone emergency fund.
New Greece timetable spelled out-By EUOBSERVER-JULY 13,15
Today, 09:53-Eurogroup chief Dijsselbloem said Monday Greek MPs will vote reforms mid-week to "restore trust", followed by votes by other euro states' national parliaments, new talks on ESM support, and new Eurogroup talks on long-term debt sustainability. Deal to also include a €50bn asset fund based in Greece and bridge financing.
Greece can use 25% of €50bn fund for investments-By EUOBSERVER-JULY 13,15
Today, 10:10-Irish leader Enda Kenny told press Greece can use 25 percent of income derived from a €50bn asset-fund "for investment and for debt reduction". He noted Finnish and German parliament votes on Monday's outcome will be key to endorse the pact. He called the 17-hour summit a "pretty bruising experience".
Dutch PM: I'll break election promise with Greece deal-By EUOBSERVER-JULY 13,15
Today, 09:52-Dutch PM Rutte, who during the 2012 election campaign said the Netherlands would provide "no more money to Greece", on Monday said he can't keep that election promise. "I will break that promise. ... I don't like it", he said, adding that he did not foresee the current situation.
Juncker: Greek people 'not humiliated'-By EUOBSERVER-JULY 13,15
Today, 09:51-EU commission head Juncker said Monday: "I don’t think the Greek people have been humiliated and I dont think the other European leaders lost face" in the Greek deal. EU Council chair Tusk said the deal "avoids the special political consequences that a negative outcome would have brought".
Greek deal: details and next steps By Andrew Rettman-JULY 13,15-EUOBSERVER
BRUSSELS, Today, 12:50-Monday’s (13 July) Greek deal is just the first step in a long process that might unlock up to €86 billion of new aid.Jeroen Dijsselbloem, the chair of the Eurogroup of finance ministers, told press: “The final completion of a deal could take a number of weeks”.Christine Lagarde, the head of the International Monetary Fund (IMF), noted: “The [summit] agreement is a step toward creating confidence and … there’ll be many more steps needed to implement what has been agreed”.The summit produced a seven-page document, which envisages two sets of Greek reforms, as well as additional steps.The first set is to: improve VAT collection; broaden the tax base; reform the pension system; copper-plate the independence of the Greek statistical office; and create a system of “quasi-automatic” budget cuts in case the Greek economy underperforms.The second set is much bigger.It includes: deeper pensions cuts; new retail laws, for instance, introducing Sunday trading; opening up of “macro-critical” professions like ferry transportation; privatisation of the electricity grid; weakening of trade unions; and ending “political interference” in bank sector appointments.It also includes the creation of a €50 billion Greek asset fund.The fund is to be based in Greece and managed by Greek authorities, but under the “supervision” of EU institutions.Dijsselbloem said “experts” will assess which Greek assets will be placed under the fund’s ownership. But French leader Francois Hollande said up to half of it will be Greek banks.The income generated by the fund, part of it through privatisations and part by what Dijsselbloem called “running” of the assets, will be chopped into three pieces.Half will be used to recapitalise Greek banks.One quarter will be used to reduce the GDP to debt ratio and one quarter for investments in the Greek economy.The additional steps include request for fresh IMF assistance, and compliance with IMF monitoring, from 1 March 2016.They also include reform of the Greek judicial system, to end government clientelism.-Next steps-The next step will be for Greek MPs, on Tuesday or Wednesday, to ratify the summit document and to enact the first set of reforms into law.If Greek MPs agree, the other 18 euro-states’ governments and parliaments will ratify the summit document, with the most hawkish parliaments - in Finland and Germany - the ones to watch.Dijsselbloem said this should take place on Thursday or Friday. But he added: “It’s difficult to say when, because they’re sovereign parliaments, so they’ll decide on their own timetables”.If the votes are in the bag, the Eurogroup and the board of the European Stability Mechanism, a Luxembourg-based crisis fund, will start talks with Greece, possibly next weekend, on a “memorandum of understanding”.The memo will flesh out details of the second set of Greek reforms.If there’s an accord, it will unlock between €82 billion and €86 billion of ESM assistance over the next three years.Between €10 billion and €25 billion is to be used for bank recapitalisation.One billion will be placed in a special account for emergency use.If the ESM deal is put in place, and if the first “programme review” confirms Greek compliance, Dijsselbloem said “we’ll also have to deal with financing of Greek debt and [long-term] debt sustainability”.The summit document says this might include “longer grace periods” for Greece to pay back loans.But both the document and German chancellor Angela Merkel underlined there’s no question of debt relief, or “haircuts”.The document added that, over the next three to five years, the European Commission will channel €35 billion from its flagship “Juncker fund” to Greece.One billion euro will be front-loaded for an immediate boost.Bridge-financing-Long and medium-term issues aside, Greece also needs to repay private and public sector bonds in the coming days to avoid default-One crucial bill is €4.2 billion, due to the European Central Bank on 20 July.But the summit document estimates that Greece needs €7 billion to cover July and €5 billion more up to mid-August.Dijsselbloem said the Eurogroup will reconvene later on Monday to discuss “bridge financing”. “This [bridge-financing] would involve all the member states, but it’s too early to say how this will go”.French president Francois Hollande noted: “It’s now necessary to put in place the financing mechanism for the time of the negotiation”.-EB meeting-In the meantime, Greek banks remain closed and capital controls remain in place.But the ECB, which is providing emergency liquidity assistance [ELA] to Greek lenders, will also hold a board meeting on Monday.If it opts to raise the ELA ceiling, either on Monday, or following the Greek parliament vote, the pressure on Greek banks will ease."The situation in Greece is very tense, so there is a certain interest we advance quickly with further steps”, Merkel said on Monday.“I have no reason to doubt the timetable”, she added.
Greece faces tough conditions under deal with euro zone-Reuters By Paul Taylor and Renee Maltezou-JULY 13,13-YAHOONEWS
BRUSSELS (Reuters) - Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euros bailout to keep the near- bankrupt country in the single currency.The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist Prime Minister Alexis Tsipras to abandon promises of ending austerity and could fracture his government and cause an outcry in Greece."Clearly the Europe of austerity has won," Greece's Reform Minister George Katrougalos said."Either we are going to accept these draconian measures or it is the sudden death of our economy through the continuation of the closure of the banks. So it is an agreement that is practically forced upon us," he told BBC radio.Greece however aims to reopen its banks on Thursday, bankers said. Facing a wave of withdrawals, the banks closed two weeks ago.If the summit on Greece's third bailout had failed, Athens would have been staring into an economic abyss with its banks on the brink of collapse and the prospect of having to print a parallel currency and exit the euro."The agreement was laborious, but it has been concluded. There is no Grexit," European Commission President Jean-Claude Juncker told a news conference after 17 hours of bargaining.He dismissed suggestions that Tsipras had been humiliated even though the summit statement insisted repeatedly that Greece must now subject much of its public policy to prior agreement by bailout monitors."In this compromise, there are no winners and no losers," Juncker said. "I don't think the Greek people have been humiliated, nor that the other Europeans have lost face. It is a typical European arrangement."Tsipras himself, elected five months ago to end five years of suffocating austerity, said he had "fought a tough battle" and "averted the plan for financial strangulation".CONDITIONAL AGREEMENT-Greece won conditional agreement to receive a possible 86 billion euros ($95 billion) over three years. As part of the deal, euro zone finance ministers will discuss on Monday how to keep Greece financed during the time it will need to agree a bailout, but none of the options appear easy, officials said.Athens must meet a tight timetable for enacting unpopular reforms of value added tax, pensions, budget cuts, bankruptcy rules and an EU banking law that could be used to make big depositors take losses.German Chancellor Angela Merkel said she could recommend "with full confidence" that the Bundestag authorize the opening of loan negotiations once the Greek parliament has approved the entire program and passed the first laws.The Bundestag is due to vote on Greece on Friday.Tsipras returned to Athens on Monday and was expected to meet aides and coalition partners. Facing a Wednesday deadline, he can put all the required measures in one parliamentary bill. Merkel's allies meanwhile defended the deal, with her chief of staff, Peter Altmaier, saying Europe had won and Germany "was part of the solution -- from the beginning until the end!"But in Greece, relief was mixed with anger at Germany. "Listen, it is some sort of victory but it is a pyrrhic victory because the measures are very strict," Marianna, 73, told Reuters.Malta's Prime Minister Joseph Muscat said Greece had been “humiliated” - mostly as a result of its refusal to take an offer made to it two weeks ago.Asked whether the tough conditions imposed on Greece were not similar to the 1919 Versailles treaty that forced crushing reparations on a defeated Germany after World War One, Merkel said: "I won't take part in historical comparisons, especially when I didn't make them myself."The deterioration of the Greek economy since Tsipras won office in January, and particularly in the last two weeks, had led to a much higher financing need, she said.One senior EU official put the cost to Greece of the last two weeks of turmoil at 25 to 30 billion euros. A euro zone diplomat said it might be closer to 50 billion euros.STATE ASSETS-Tsipras accepted a compromise on German-led demands for the sequestration of Greek state assets worth 50 billion euros - including recapitalized banks - in a trust fund beyond government reach, to be sold off primarily to pay down debt. In a gesture to Greece, some 12.5 billion euros of the proceeds would go to investment in Greece, Merkel said.The Greek leader had to drop his opposition to a full role for the International Monetary Fund in the next bailout, which Merkel had insisted on to win parliamentary backing in Berlin.In a sign of how hard it may be for Tsipras to convince his own Syriza party to accept the deal, Labour Minister Panos Skourletis said the terms were unviable and would lead to new elections this year.Six sweeping measures including spending cuts, tax hikes and pension reforms must be enacted by Wednesday night and the entire package endorsed by parliament before talks can start, the leaders decided.In almost the only concession after imposing its tough terms on Tsipras, Germany dropped a proposal to make Greece take a "time-out" from the euro zone that many said resembled a forced ejection if it failed to meet the conditions. Tsipras was subjected to a 17-hour browbeating by leaders furious that he had spurned their previous bailout offer on more favorable terms in June and held a referendum last week to reject it. Only France and Italy worked to try to soften the terms being imposed on Greece.Some diplomats questioned whether it was feasible to rush the package through the Greek parliament in three days. Tsipras is set to sack ministers who did not support him and make dissident Syriza lawmakers resign their seats, people close to the government said.Even if this week's rescue succeeds, EU diplomats question whether Greece will stay the course on a three-year program.Euro zone finance ministers were tasked with finding sources of immediate bridge funding for Greece to prevent it defaulting on a key payment to the ECB next Monday. Greece needs 7 billion euros of funding by July 20, when it must make a bond redemption to the ECB, and 12 billion euros by mid-August when another ECB payment falls due.The ECB on Monday maintained emergency funding for Greek banks to keep them just afloat this week, a banking source said.(Reporting by Alastair Macdonald, Andreas Rinke, Tom Koerkemeier, Philip Blenkinsop, Julia Fioretti, Alexander Saeedy, Robert-Jan Bartunek and Julien Ponthis in Brussels, George Georgiopoulos and Lefteris Karagiannopoulos in Athens; Writing by Paul Taylor; editing by Anna Willard and Giles Elgood)
Greece capitulates at EU summit By Honor Mahony-JULY 13,15-EUOBSERVER
BRUSSELS, Today, 13:21-A Greek exit from the eurozone has been avoided after a weekend of tough talks, but the political cost of arriving at a deal is likely to be felt for years to come.After 18 hours of negotiations, culimnating six months of wider talks, euro leaders emerged bleary-eyed on Monday morning (13 July) to announce a deal that will, eventually, see Greece get a new bailout if it takes painful reforms and if it agrees to intense scrutiny at every step of the way.The immediate result was summed up by European Commission president Jean-Claude Juncker."There will be no Grexit”, he said.He noted that he’s happy with the "form and substance" of the deal, adding: "I don’t think the Greek people have been humiliated and I don't think the other European leaders lost face".But despite his assessment, the deal represents capitulation on nearly all points for the left-wing Greek government, which was elected on a platform to stop austerity and which, just one week ago, held a referendum in which Greek people rejected creditors' demands.With trust between Athens and creditors almost non-existent, Greece is being told it must take “prior actions” by Wednesday, including new laws on VAT hikes, pension cuts, and statistical office reforms, as well as ratification of the summit’s entire, seven-page austerity blueprint.The creditors and the Eurogroup will formally scrutinise compliance before other eurozone parliaments vote on the summit terms.Another proviso in the summit deal includes the return of the creditor institutions’ officials, the widely-hated, formerly called “troika”, to Athens.Since February, at Athens' insistence, negotiations only took place in Brussels. In addition all "draft legislation in relevant areas" must first be shown to creditors before being put before Greek MPs.Greek PM Alexis Tsipras also received next-to-no concessions on debt relief, which had - along with pensions and VAT - been one of his red lines."Nominal haircuts” were, once again, explicitly ruled out. Debt reprofiling will only be considered down the road "if necessary".The deal saw Germany - Greece's biggest and most hardline eurozone creditor - receive flak on social media for pushing for such tough terms including a temporary eurozone exit, even after it was clear that Athens had backed down.Berlin's hardline stance is popular at home, where public opinion has hardened against Greece. But it split the eurozone.A rift emerged between those who supported a more conciliatory and political line towards Greece (including France and Italy), and those who sided with Germany (such as Finland and the Netherlands) for a more rules-based approach."There was in Germany rather strong pressure for a Grexit. I refused that solution," French president Hollande said after the meeting.French experts had been instrumental in bringing a Greek deal back to the table ahead of the summit.The entire weekend exposed the limits of the eurozone architecture, which is monetary union without a political union to back it up.This meant the negotiations boiled down to whose democratic mandate counted for more: that of Tsipras, who pledged to end austerity, or that of Angela Merkel, the German chancellor? It also meant talks had to take into account that the Finnish government might collapse if the Greek terms were too soft, or that other bailed-out states, such as Ireland or Portugal, did not want debt relief for Greece after having failed to get it for their own people.Asked whether she felt the EU is now a “German Europe” in light of the summit deal, Merkel said: "I did not have that impression this morning".Dutch PM Mark Rutte, for his part, noted that sending more money to Greece will mean that he’s breaking his electoral promise to the Dutch people.Ireland's Enda Kenny said the summit was a "pretty bruising experience".For his part, Juha Sipila, the Finnish PM, noted that Helsinki had been in favour of Berlin's proposal to eject Greece from the euro for five years.He said he cannot guarantee that his parliament will accept to open negotiations on a third bailout.It is also not sure whether Tsipras will be able to get the terms of the agreement through his parliament. Or that Merkel will get it through hers.Tsipras, on his way out of the summit, said the deal "gives hope of recovery" but acknowledged it will be "difficult to implement" .Meanwhile, for ordinary Greeks, the austerity measures will continue and the answer to the question of when they can start withdrawing more than €60 a day from their bank accounts remains unclear.
Dijsselbloem re-elected as Eurogroup chief By Peter Teffer-JULY 13,15-EUOBSERVER
Brussels, Today, 18:28-Jeroen Dijsselbloem has been re-elected as president of the Eurogroup, the body of eurozone finance ministers, on Monday (13 July), the EU Council announced in a press statement."The Eurogroup reappointed Jeroen Dijsselbloem as president of the Eurogroup for the next 2.5 years. This decision was unanimously supported by all Eurogroup members", the press release said.Dutch finance minister Dijsselbloem has been the second to hold the post, and his fellow finance ministers have now given him a second mandate.He has been praised for his factual and non-emotional approach to the Greek debt crisis, and for being amicable.He was running against Spanish finance minister Luis de Guindos. Spain's prime minister explicitly said he wanted De Guindos to get the post, partly because Spain feels it is its "turn" to receive a big EU post.Ahead of Monday’s Eurogroup meeting, Slovak prime minister Peter Kazimir said Dijsselbloem helped the eurozone finance ministers “to navigate … during the [Greek] crisis, and he did an excellent job”.“I like his style. He's a nice guy”, Kazimir said.Dijsselbloem’s Finnish counterpart, Alexander Stubb – rumoured as a compromise candidate – did not cite his preference before the meeting.“I've gotten to know both gentlemen [Dijsselbloem and De Guindos] over the years. They are very good professionals, they have a good track record in European affairs. … I like both of them”, he said.Jeroen Rene Victor Anton Dijsselbloem, born in 1966, has been Dutch finance minister since November 2012 for the Dutch centre-left Labour party. During Labour's coalition talks with Mark Rutte's centre-right Liberal party, Dijsselbloem was his party leader's right-hand.The coalition is a pragmatic one, and Dijsselbloem is often described as a member of a new generation born in the 1960s of pragmatic, not overtly ideologically-driven Dutch politicians – of which prime minister Rutte is also a part.Dijsselbloem had only been minister for two months when he was elected as second-ever Eurogroup president in January 2013, as successor to then finance minister (and PM) of Luxembourg, Jean-Claude Juncker. Juncker had held the post since 2005.When Dijsselbloem started, the Eurogroup had 17 members. It now has 19.Gaffes-His success comes after something of a false start.In his third month as Eurogroup president, Dijsselbloem received a lot of criticism when Reuters and FT quoted him as saying that the bailout programme for Cyprus, which included a haircut on depositors, was a template for other countries.After the interview caused financial markets to drop and pundits to criticize the statement, Dijsselbloem said he never actually used the word template – something which was proven when the FT published a transcript of the interview.But his subsequent comment, in a Dutch talkshow, that he didn't even know the English word for “template”, also wasn't appreciated by everyone.There was another comment which backfired, when, in January 2014, Dijsselbloem joked on Dutch national TV that his predecessor Juncker had been an “inveterate smoker, and drinker by the way”.“After his departure, the atmosphere has become substantially more Calvinist”, he added with a smile.But although Dijsselbloem has apologized at least twice to Juncker, the joke is said to have shattered Dijsselbloem's chances of gaining a post in Juncker's college of commissioners.Dutch newspaper NRC Handelsblad reported last year that the Dutch government had lobbied for over a year to get Dijsselbloem an important commission post, preferably as commissioner for economic and monetary affairs.The paper noted that Dijsselbloem was not an acceptable candidate for Juncker, and the Dutch government opted to nominate Frans Timmermans instead.The relationship with Juncker has improved.“It was an unfortunate joke that caused a lot of trouble for Jean-Claude. I apologized to him twice, first by telephone, later over a cup of coffee. That should put the affair to rest, you can’t string it out forever”, Dijsselbloem told Dutch magazine Vrij Nederland last month, adding that the relationship between the two presidents is “good”.Greece-It is Dijsselbloem's firm handling of the Greek debt crisis the last months which solidified his re-election.In what could be seen as an endorsement, or at least a rehabilitation, Dijsselbloem received generous praise from Juncker recently.On Monday 29 June, after the Greek government had announced it would hold a referendum, Juncker gave an emotional speech in which he noted “that Mr Dijsselbloem did an excellent job for the last months, an excellent job”.He added that Dijsselbloem “has bent over backwards to reach an agreement over the past few weeks”.After last weekend's marathon meetings – Dijsselbloem had a 14-hour Eurogroup meeting followed by a 17-hour euro summit – Dijsselbloem again received praise for his role.EU Council president Donald Tusk on Monday morning thanked Dijsselbloem (and Juncker) for their dedication and involvement.“Without your hard work, this agreement wouldn't even be possible”, he said.Following the press conference, Dijsselbloem took a few minutes to speak to Dutch press.Did this summit weekend enhance his chances of being re-elected, that same afternoon? “In as far as that was necessary, perhaps”, he said. A few hours later he was back at the Council building. When asked if he stood a chance to be re-elected, Dijsselbloem said: “Certainly”.
UPDATED JULY 13,2015-12:00AM
IN THE NEXT THREE DAYS-GREECE HAS TO PUSH THREW LEGISLATION AND PASS IT IN THE GREEK GOVERNMENT.THAT SAYS GREECE WILL OBIDE BY THE ECB- EUROZONE DEMANDS.AND ALL AUSTERITY WILL BE ACCEPTED.OR THE ECB AND EUROZONE WILL TAKE WHAT THEY WANT-IF GREECE DOES NOT PAY THEIR LOANS. BY MAKING IT OFFICIAL INTO LAW IN THE GREEK GOVERNMENT.THE ECB- EUROZONE WILL BE ASSURED OF GETTING THEIR MONEY BACK.AND JUNKER WANTS GREECE IN THE EUROZONE.
Greece must implement reforms by 15 July-By EUOBSERVER-JULY 13,15
Today, 16:48-The Eurogroup set up on Sunday "far reaching conditionalities" for a new Greek bailout, Finnish finance minister Alexander Stubb said after the meeting. They include "laws that have to be pushed through before 15 July", "tough conditions" on pensions, labour reforms, VAT and taxes, as well as on privatizations.
Summit is about the 'unity of Europe-By EUOBSERVER
12. Jul, 15:43-Sunday's meeting of euro leaders to discuss Greece is not just any old meeting, or any old negotiation, European Parliament President Martin Schulz said. "This is about the unity of Europe," he noted, adding: Euro leaders will be deciding about the "future of Europe."
Hollande warns of Europe going backwards-By EUOBSERVER
12. Jul, 15:36-What is at stake at the euro summit on Sunday "is not only Greece, it is our conception of Europe", French president Francois Hollande said. If Greece was to exit the euro, he said, that would mean "Europe goes backward and not forward anymore".
EU leaders repeat warning on loss of trust-By EUOBSERVER
12. Jul, 16:12-Leaders of Slovenia and Lithuania said Sunday loss of trust in the Greek government is the main obstacle to a deal, echoing finance ministers earlier in the day. "We hope this loss of trust can be forgotten", Slovenia's Cerar said. Lithuania's Grybauskaite said Greece is "changing its opinion every week".
Euro summit considering control over Greek legislation-By EUOBSERVER
12. Jul, 18:34-If an agreement is reached by eurozone leaders on a new bailout, Greece would have to "consult and agree with the institutions on all draft legislation in relevant areas with adequate time before submitting it for public consultation or to parliament," according to the draft discussed at a summit Sunday.
Draft summit conclusions mention temporary Grexit-By EUOBSERVER
12. Jul, 18:17-A draft statement prepared by eurozone finance ministers for the euro summit Sunday mentions a temporary Greek euro exit "in case no agreement could be reached" by eurozone leaders. "Greece should be offered swift negotiations on a time-out from the euro area, with possible debt restructuring," the draft says.
Greece may be forced to set up privatisation fund-By EUOBSERVER
12. Jul, 18:17-Eurozone leaders could decide Sunday to create an "external and independent fund" for Greek assets up to €50 billion, according to a Eurogroup draft statement. The fund, a German demand, would be "managed by Greek authorities" under EU supervision and assets would privatised or used to reduce the Greek debt.
Greek shops, cafes hit by capital controls By Nathalie Savaricas-EUOBSERVER
ATHENS, 10. Jul, 18:18-If you took a walk down a typical street in central Athens, you might not notice the country’s economy is on the brink of collapse.But in fact, thousands of small businesses, which make up for over 90 percent of companies in the debt-stricken country, have barely any income these days.Despite the sale season, clothes shops and electronics stores, for instance, are making few sales. Some prefer to remain shut.The bank holiday, enforced since 27 June, has all-but frozen the local economy, resulting in losses of over €1 billion, according to the Greek commerce confederation.Bank transactions within the borders of Greece are allowed. But for the second week running, Greeks can only withdraw €60 a day from ATMs. Since many banks have run out of €20 notes, in practice it means €50.Meanwhile, fears grow, that if talks go badly in Brussels, the government might be forced to impose a haircut on depositors’ acounts.The situation has prompted some Greeks to spend their money in case they lose it.John, a hotel owner,said he bought himself tickets to go to India and the “most expensive laptop” he could find.Others are buying gold and jewellery.But the panic-buying is an exception.Meanwhile, capital controls have also hit tourism - an important pillar of the Greek economy, which represents one in five jobs.The Association of Hellenic Tourism enterprises says hotel bookings are down 50,000 a day. Its grim forecast is that tourist arrivals will drop by nearly 20 percent this year if the crisis continues.Meanwhile, travel agents are struggling to do their job. Airline companies now request payments up front by credit card or cash, while before people were entitled to 15-day credit.“I cannot issue tickets and had to ask clients to go pay the airline company directly”, says Zefi Papayanni, a travel agent.“The airline companies are right to take these measures - this probably happened because travel agents defaulted.”She is thankful to those foreigners who come. But she sympathises with tourists who fear there might not be fuel for planes or ferries to get them back home. Giorgos, a taxi-driver, said the slow-down is having a huge impact.“I don’t even cover my expenses,” he told EUobserver. He’s been working 12 to 14 hours a day to make €10 to €15 a day.“This is just tragic - if it goes on, I’ll have to think of doing something else.”He has three children and rents his car from another driver.At a cafe, opposite parliament, Alexandros, the son of the co-owner, also complained about a massive drop in income.“No one is coming in. It’s really bad. We only get by thanks to the journalists”, he said, after waiting on a table with three English-speaking reporters.The throngs of TV cameras and satellite dishes have invaded Syntagma square over the past week, with journalists seen doing stand-ups on the balconies of adjacent hotels.As news of the Greek government’s latest proposal materialised, cafe owners’ fears grew.They are to see VAT on their services nearly double, from the current 13 percent to 23 percent.Petros, who co-owns a small but bustling cafe not far from parliament, worries that the tax hike will kill his business.“It’ll finish us - just like that,” he says and snaps his fingers.“Then they’ll wonder if we’ll be tax evading. [But] if we give our income to pay taxes then how are we expected to survive?.”
Euro zone leaders: Greece must do more to earn rescue-Reuters By Renee Maltezou and Andreas Rinke-JULY 12,15-YAHOONEWS
BRUSSELS (Reuters) - Euro zone leaders told near-bankrupt Greece at an emergency summit on Sunday that it must enact key reforms this week to restore trust before they will open talks on any new financial rescue to keep it in the European currency area.Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament to convince his 18 partners in the euro zone to release immediate funds to avert a state bankruptcy and start negotiations on a third bailout program.Six sweeping measures including tax and pension reforms will have to be enacted by Wednesday night and the entire package endorsed by parliament before talks can start, a draft decision sent by Eurogroup finance ministers to the leaders showed.The document also included a German proposal to make Greece take a "time-out" from the euro zone if it failed to meet the conditions for a loan. But not all ministers endorsed the idea, which was reserved in brackets in the text seen by Reuters.A senior EU source said such a temporary exit from the euro was illegal and would not survive in the summit statement.Tsipras said on arrival in Brussels he wanted "another honest compromise" to keep Europe united."We can reach an agreement tonight if all parties want it," he said.But German Chancellor Angela Merkel, whose country is the biggest contributor to euro zone bailouts, said the conditions were not yet right to start negotiations, sounding cautious in deference to mounting opposition at home to more aid for Greece."The most important currency has been lost and that is trust," she told reporters. "That means that we will have tough discussions and there will be no agreement at any price."If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan. Then Eurogroup finance ministers would meet again on Friday or at the weekend to formally launch the negotiations.A Greek government official, in a first reaction to the draft, said: "How can they demand all these measures at the last minute without securing a lifeline to see us through till next week?"A European official said a Eurogroup meeting on Monday could discuss ways to provide emergency finance to keep Athens afloat.A finance ministers' meeting was suspended at midnight after angry exchanges during nine hours of acrimonious debate without a firm recommendation on Greece's application for a three-year loan on the basis of reform proposals submitted by Tsipras.Eurogroup chairman Jeroen Dijsselbloem said that while ministers had made good progress, a couple of big issues were left for the leaders to resolve."The Eurogroup ... came to the conclusion that there is not yet the basis to start the negotiations on a new program," the document sent to national leaders said."Only subsequent to legal implementation of the above mentioned measures can negotiations on the memorandum of understanding commence, subject to national procedures having been completed," it said, in a reference to authorization by national parliaments in countries such as Germany.The draft said Greece needed 7 billion euros by July 20, when it must make a crucial bond redemption to the European Central Bank, and a total of 12 billion euros by mid-August when another ECB payment falls due.It did not say how those needs would be met, and EU officials said finance ministers had been unable to agree on emergency finance.-TEMPORARY GREXIT?-Several hardline countries voiced support for the German proposal that Greece take a five-year "time-out" from the euro unless it accepted and implemented swiftly much tougher conditions, notably by locking state assets to be privatized in an independent trust to pay down debt.But French President Francois Hollande, Greece's strongest ally in the euro zone, dismissed the notion, saying it would start a dangerous unraveling of EU integration."There is no such thing as temporary Grexit, there is only a Grexit or no Grexit. There is Greece in the euro zone or Greece not in the euro zone. But in that case it's Europe that retreats and no longer progresses and I don't want that," he said.European Council President Donald Tusk canceled a planned summit of all 28 EU leaders that would have been needed in case of a Greek exit from the single currency, and said euro zone leaders would keep talking "until we conclude talks on Greece".The finance ministers agreed in principle to seek ways to make Greece's debt burden manageable by extending loan maturities and other steps stopping short of a "haircut" or writedown, provided Athens first implements reforms.They also insisted that the International Monetary Fund must remain fully involved in any third bailout for Athens.At one stage in the debate on Greece's debt sustainability, Germany's hardline Schaeuble snapped at ECB President Mario Draghi: "I'm not stupid," a person familiar with the exchange said. Schaeuble also clashed with the head of the euro zone bailout fund, Klaus Regling, on whether the EU treaty conditions for an emergency loan were fulfilled, another source said.The rules say there must be "a risk to the financial stability of the euro area as a whole or of its Member States".-GREEKS SEE HUMILIATION-Greece's new finance minister, Euclid Tsakalotos, was silent in public but the reaction among some lawmakers in Tsipras' radical leftist Syriza party, still smarting from having to swallow austerity measures they had opposed, was furious."What is at play here is an attempt to humiliate Greece and Greeks, or to overthrow the Tsipras government," Dimitrios Papadimoulis, a Syriza member of the European Parliament, told Mega TV.With banks shuttered for two weeks, cash withdrawals rationed and the economy on the edge of an abyss, some Greeks vented their anger on Merkel and Schaeuble."The only thing that I care about is not being humiliated by Schaeuble and the rest of theme" said Panagiotis Trikokglou, a 44-year-old private sector worker in Athens.Greece has already had two bailouts worth 240 billion euros from euro zone countries and the International Monetary Fund, but its economy has shrunk by a quarter since the crisis began, unemployment has soared above 25 percent and one in two young people is out of work.Athens defaulted on an IMF loan repayment last month and faces state bankruptcy if it cannot make the bond redemption on July 20, which would likely force the ECB to cut emergency funding for Greek banks.Economists said the idea of a temporary exit would mean in practice ejecting Athens from the European monetary union.Paul De Grauwe, a Belgian economist at the London School of Economics, compared it to a couple having a trial separation."Temporary Grexit is like temporary divorce. Most if not all end up being permanent," he said in a Twitter message.The United States has added its voice to calls for a deal this weekend, concerned at the geopolitical consequences if Greece were to be cut loose and become a failed state in the fragile southern Balkans, adjoining the Middle East."No one wants to see a North Korea in southeastern Europe," a European Commission official said.(Additional reporting by Alastair Macdonald, Philip Blenkinsop, Foo Yun Chee, Robert-Jan Bartunek, Tom Koerkemeier, Julien Ponthus, Francesco Guarascio, Julia Fioretti and Alexander Saeedy in Brussels, Michele Kambas and Matthias Williams in Athens, Rene Wagner and Paul Carrel in Berlin and Crispian Balmer in Rome; Writing by Paul Taylor; Editing by Giles Elgood)
OTHER GREECE STORIES
http://israndjer.blogspot.ca/2015/07/cosby-accuser-asks-to-have-complete.html
DANIEL 7:23-25
23 Thus he said, The fourth beast (EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADING BLOCKS-10 WORLD REGIONS/TRADE BLOCS)
24 And the ten horns out of this kingdom are ten kings(10 NATIONS-10 WORLD DIVISION WORLD GOVERNMENT) that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.(THE EU (EUROPEAN UNION) TAKES OVER IRAQ WHICH HAS SPLIT INTO 3-SUNNI-KURD-SHIA PARTS-AND THE REVIVED ROMAN EMPIRE IS BROUGHT BACK TOGETHER-THE TWO LEGS OF DANIEL WESTERN LEG AND THE ISLAMIC LEG COMBINED AS 1)
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
GREECE-THE EUROZONE FANTASY
http://www.infowars.com/why-greece-is-the-precursor-to-the-next-global-debt-crisis/
UPDATED JULY 13,2015-01:00PM
AFTER 17 HOURS.THE ECB-EUROZONE GROUP LAID OUT THE PLANS FOR GREECES SERVIVAL IN THE 19 MEMBER EUROZONE.THE CUTS ARE HARSH.AND GREECE MUST PUT THEM IN THE LAW BOOKS.SO IF GREECE DOES NOT PAY.THEY WILL LOSE BANKS OR PROPERTY TO THE CREDITERS.AND THE ECB AND EUROZONE WILL THEN CONTROL GREECE.
Euro summit reach unanimous agreement on Greek bailout-By EUOBSERVER-JULY 13,15
Today, 09:03-Eurozone leaders "unanimously reached an agreement" Monday morning after a 16-hour summit, European Council president Donad Tusk wrote on Twitter. "All ready to go for ESM programme for Greece with serious reforms & financial support," he added, referring to the Europeann Stability Mechanism, the eurozone emergency fund.
New Greece timetable spelled out-By EUOBSERVER-JULY 13,15
Today, 09:53-Eurogroup chief Dijsselbloem said Monday Greek MPs will vote reforms mid-week to "restore trust", followed by votes by other euro states' national parliaments, new talks on ESM support, and new Eurogroup talks on long-term debt sustainability. Deal to also include a €50bn asset fund based in Greece and bridge financing.
Greece can use 25% of €50bn fund for investments-By EUOBSERVER-JULY 13,15
Today, 10:10-Irish leader Enda Kenny told press Greece can use 25 percent of income derived from a €50bn asset-fund "for investment and for debt reduction". He noted Finnish and German parliament votes on Monday's outcome will be key to endorse the pact. He called the 17-hour summit a "pretty bruising experience".
Dutch PM: I'll break election promise with Greece deal-By EUOBSERVER-JULY 13,15
Today, 09:52-Dutch PM Rutte, who during the 2012 election campaign said the Netherlands would provide "no more money to Greece", on Monday said he can't keep that election promise. "I will break that promise. ... I don't like it", he said, adding that he did not foresee the current situation.
Juncker: Greek people 'not humiliated'-By EUOBSERVER-JULY 13,15
Today, 09:51-EU commission head Juncker said Monday: "I don’t think the Greek people have been humiliated and I dont think the other European leaders lost face" in the Greek deal. EU Council chair Tusk said the deal "avoids the special political consequences that a negative outcome would have brought".
Greek deal: details and next steps By Andrew Rettman-JULY 13,15-EUOBSERVER
BRUSSELS, Today, 12:50-Monday’s (13 July) Greek deal is just the first step in a long process that might unlock up to €86 billion of new aid.Jeroen Dijsselbloem, the chair of the Eurogroup of finance ministers, told press: “The final completion of a deal could take a number of weeks”.Christine Lagarde, the head of the International Monetary Fund (IMF), noted: “The [summit] agreement is a step toward creating confidence and … there’ll be many more steps needed to implement what has been agreed”.The summit produced a seven-page document, which envisages two sets of Greek reforms, as well as additional steps.The first set is to: improve VAT collection; broaden the tax base; reform the pension system; copper-plate the independence of the Greek statistical office; and create a system of “quasi-automatic” budget cuts in case the Greek economy underperforms.The second set is much bigger.It includes: deeper pensions cuts; new retail laws, for instance, introducing Sunday trading; opening up of “macro-critical” professions like ferry transportation; privatisation of the electricity grid; weakening of trade unions; and ending “political interference” in bank sector appointments.It also includes the creation of a €50 billion Greek asset fund.The fund is to be based in Greece and managed by Greek authorities, but under the “supervision” of EU institutions.Dijsselbloem said “experts” will assess which Greek assets will be placed under the fund’s ownership. But French leader Francois Hollande said up to half of it will be Greek banks.The income generated by the fund, part of it through privatisations and part by what Dijsselbloem called “running” of the assets, will be chopped into three pieces.Half will be used to recapitalise Greek banks.One quarter will be used to reduce the GDP to debt ratio and one quarter for investments in the Greek economy.The additional steps include request for fresh IMF assistance, and compliance with IMF monitoring, from 1 March 2016.They also include reform of the Greek judicial system, to end government clientelism.-Next steps-The next step will be for Greek MPs, on Tuesday or Wednesday, to ratify the summit document and to enact the first set of reforms into law.If Greek MPs agree, the other 18 euro-states’ governments and parliaments will ratify the summit document, with the most hawkish parliaments - in Finland and Germany - the ones to watch.Dijsselbloem said this should take place on Thursday or Friday. But he added: “It’s difficult to say when, because they’re sovereign parliaments, so they’ll decide on their own timetables”.If the votes are in the bag, the Eurogroup and the board of the European Stability Mechanism, a Luxembourg-based crisis fund, will start talks with Greece, possibly next weekend, on a “memorandum of understanding”.The memo will flesh out details of the second set of Greek reforms.If there’s an accord, it will unlock between €82 billion and €86 billion of ESM assistance over the next three years.Between €10 billion and €25 billion is to be used for bank recapitalisation.One billion will be placed in a special account for emergency use.If the ESM deal is put in place, and if the first “programme review” confirms Greek compliance, Dijsselbloem said “we’ll also have to deal with financing of Greek debt and [long-term] debt sustainability”.The summit document says this might include “longer grace periods” for Greece to pay back loans.But both the document and German chancellor Angela Merkel underlined there’s no question of debt relief, or “haircuts”.The document added that, over the next three to five years, the European Commission will channel €35 billion from its flagship “Juncker fund” to Greece.One billion euro will be front-loaded for an immediate boost.Bridge-financing-Long and medium-term issues aside, Greece also needs to repay private and public sector bonds in the coming days to avoid default-One crucial bill is €4.2 billion, due to the European Central Bank on 20 July.But the summit document estimates that Greece needs €7 billion to cover July and €5 billion more up to mid-August.Dijsselbloem said the Eurogroup will reconvene later on Monday to discuss “bridge financing”. “This [bridge-financing] would involve all the member states, but it’s too early to say how this will go”.French president Francois Hollande noted: “It’s now necessary to put in place the financing mechanism for the time of the negotiation”.-EB meeting-In the meantime, Greek banks remain closed and capital controls remain in place.But the ECB, which is providing emergency liquidity assistance [ELA] to Greek lenders, will also hold a board meeting on Monday.If it opts to raise the ELA ceiling, either on Monday, or following the Greek parliament vote, the pressure on Greek banks will ease."The situation in Greece is very tense, so there is a certain interest we advance quickly with further steps”, Merkel said on Monday.“I have no reason to doubt the timetable”, she added.
Greece faces tough conditions under deal with euro zone-Reuters By Paul Taylor and Renee Maltezou-JULY 13,13-YAHOONEWS
BRUSSELS (Reuters) - Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euros bailout to keep the near- bankrupt country in the single currency.The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist Prime Minister Alexis Tsipras to abandon promises of ending austerity and could fracture his government and cause an outcry in Greece."Clearly the Europe of austerity has won," Greece's Reform Minister George Katrougalos said."Either we are going to accept these draconian measures or it is the sudden death of our economy through the continuation of the closure of the banks. So it is an agreement that is practically forced upon us," he told BBC radio.Greece however aims to reopen its banks on Thursday, bankers said. Facing a wave of withdrawals, the banks closed two weeks ago.If the summit on Greece's third bailout had failed, Athens would have been staring into an economic abyss with its banks on the brink of collapse and the prospect of having to print a parallel currency and exit the euro."The agreement was laborious, but it has been concluded. There is no Grexit," European Commission President Jean-Claude Juncker told a news conference after 17 hours of bargaining.He dismissed suggestions that Tsipras had been humiliated even though the summit statement insisted repeatedly that Greece must now subject much of its public policy to prior agreement by bailout monitors."In this compromise, there are no winners and no losers," Juncker said. "I don't think the Greek people have been humiliated, nor that the other Europeans have lost face. It is a typical European arrangement."Tsipras himself, elected five months ago to end five years of suffocating austerity, said he had "fought a tough battle" and "averted the plan for financial strangulation".CONDITIONAL AGREEMENT-Greece won conditional agreement to receive a possible 86 billion euros ($95 billion) over three years. As part of the deal, euro zone finance ministers will discuss on Monday how to keep Greece financed during the time it will need to agree a bailout, but none of the options appear easy, officials said.Athens must meet a tight timetable for enacting unpopular reforms of value added tax, pensions, budget cuts, bankruptcy rules and an EU banking law that could be used to make big depositors take losses.German Chancellor Angela Merkel said she could recommend "with full confidence" that the Bundestag authorize the opening of loan negotiations once the Greek parliament has approved the entire program and passed the first laws.The Bundestag is due to vote on Greece on Friday.Tsipras returned to Athens on Monday and was expected to meet aides and coalition partners. Facing a Wednesday deadline, he can put all the required measures in one parliamentary bill. Merkel's allies meanwhile defended the deal, with her chief of staff, Peter Altmaier, saying Europe had won and Germany "was part of the solution -- from the beginning until the end!"But in Greece, relief was mixed with anger at Germany. "Listen, it is some sort of victory but it is a pyrrhic victory because the measures are very strict," Marianna, 73, told Reuters.Malta's Prime Minister Joseph Muscat said Greece had been “humiliated” - mostly as a result of its refusal to take an offer made to it two weeks ago.Asked whether the tough conditions imposed on Greece were not similar to the 1919 Versailles treaty that forced crushing reparations on a defeated Germany after World War One, Merkel said: "I won't take part in historical comparisons, especially when I didn't make them myself."The deterioration of the Greek economy since Tsipras won office in January, and particularly in the last two weeks, had led to a much higher financing need, she said.One senior EU official put the cost to Greece of the last two weeks of turmoil at 25 to 30 billion euros. A euro zone diplomat said it might be closer to 50 billion euros.STATE ASSETS-Tsipras accepted a compromise on German-led demands for the sequestration of Greek state assets worth 50 billion euros - including recapitalized banks - in a trust fund beyond government reach, to be sold off primarily to pay down debt. In a gesture to Greece, some 12.5 billion euros of the proceeds would go to investment in Greece, Merkel said.The Greek leader had to drop his opposition to a full role for the International Monetary Fund in the next bailout, which Merkel had insisted on to win parliamentary backing in Berlin.In a sign of how hard it may be for Tsipras to convince his own Syriza party to accept the deal, Labour Minister Panos Skourletis said the terms were unviable and would lead to new elections this year.Six sweeping measures including spending cuts, tax hikes and pension reforms must be enacted by Wednesday night and the entire package endorsed by parliament before talks can start, the leaders decided.In almost the only concession after imposing its tough terms on Tsipras, Germany dropped a proposal to make Greece take a "time-out" from the euro zone that many said resembled a forced ejection if it failed to meet the conditions. Tsipras was subjected to a 17-hour browbeating by leaders furious that he had spurned their previous bailout offer on more favorable terms in June and held a referendum last week to reject it. Only France and Italy worked to try to soften the terms being imposed on Greece.Some diplomats questioned whether it was feasible to rush the package through the Greek parliament in three days. Tsipras is set to sack ministers who did not support him and make dissident Syriza lawmakers resign their seats, people close to the government said.Even if this week's rescue succeeds, EU diplomats question whether Greece will stay the course on a three-year program.Euro zone finance ministers were tasked with finding sources of immediate bridge funding for Greece to prevent it defaulting on a key payment to the ECB next Monday. Greece needs 7 billion euros of funding by July 20, when it must make a bond redemption to the ECB, and 12 billion euros by mid-August when another ECB payment falls due.The ECB on Monday maintained emergency funding for Greek banks to keep them just afloat this week, a banking source said.(Reporting by Alastair Macdonald, Andreas Rinke, Tom Koerkemeier, Philip Blenkinsop, Julia Fioretti, Alexander Saeedy, Robert-Jan Bartunek and Julien Ponthis in Brussels, George Georgiopoulos and Lefteris Karagiannopoulos in Athens; Writing by Paul Taylor; editing by Anna Willard and Giles Elgood)
Greece capitulates at EU summit By Honor Mahony-JULY 13,15-EUOBSERVER
BRUSSELS, Today, 13:21-A Greek exit from the eurozone has been avoided after a weekend of tough talks, but the political cost of arriving at a deal is likely to be felt for years to come.After 18 hours of negotiations, culimnating six months of wider talks, euro leaders emerged bleary-eyed on Monday morning (13 July) to announce a deal that will, eventually, see Greece get a new bailout if it takes painful reforms and if it agrees to intense scrutiny at every step of the way.The immediate result was summed up by European Commission president Jean-Claude Juncker."There will be no Grexit”, he said.He noted that he’s happy with the "form and substance" of the deal, adding: "I don’t think the Greek people have been humiliated and I don't think the other European leaders lost face".But despite his assessment, the deal represents capitulation on nearly all points for the left-wing Greek government, which was elected on a platform to stop austerity and which, just one week ago, held a referendum in which Greek people rejected creditors' demands.With trust between Athens and creditors almost non-existent, Greece is being told it must take “prior actions” by Wednesday, including new laws on VAT hikes, pension cuts, and statistical office reforms, as well as ratification of the summit’s entire, seven-page austerity blueprint.The creditors and the Eurogroup will formally scrutinise compliance before other eurozone parliaments vote on the summit terms.Another proviso in the summit deal includes the return of the creditor institutions’ officials, the widely-hated, formerly called “troika”, to Athens.Since February, at Athens' insistence, negotiations only took place in Brussels. In addition all "draft legislation in relevant areas" must first be shown to creditors before being put before Greek MPs.Greek PM Alexis Tsipras also received next-to-no concessions on debt relief, which had - along with pensions and VAT - been one of his red lines."Nominal haircuts” were, once again, explicitly ruled out. Debt reprofiling will only be considered down the road "if necessary".The deal saw Germany - Greece's biggest and most hardline eurozone creditor - receive flak on social media for pushing for such tough terms including a temporary eurozone exit, even after it was clear that Athens had backed down.Berlin's hardline stance is popular at home, where public opinion has hardened against Greece. But it split the eurozone.A rift emerged between those who supported a more conciliatory and political line towards Greece (including France and Italy), and those who sided with Germany (such as Finland and the Netherlands) for a more rules-based approach."There was in Germany rather strong pressure for a Grexit. I refused that solution," French president Hollande said after the meeting.French experts had been instrumental in bringing a Greek deal back to the table ahead of the summit.The entire weekend exposed the limits of the eurozone architecture, which is monetary union without a political union to back it up.This meant the negotiations boiled down to whose democratic mandate counted for more: that of Tsipras, who pledged to end austerity, or that of Angela Merkel, the German chancellor? It also meant talks had to take into account that the Finnish government might collapse if the Greek terms were too soft, or that other bailed-out states, such as Ireland or Portugal, did not want debt relief for Greece after having failed to get it for their own people.Asked whether she felt the EU is now a “German Europe” in light of the summit deal, Merkel said: "I did not have that impression this morning".Dutch PM Mark Rutte, for his part, noted that sending more money to Greece will mean that he’s breaking his electoral promise to the Dutch people.Ireland's Enda Kenny said the summit was a "pretty bruising experience".For his part, Juha Sipila, the Finnish PM, noted that Helsinki had been in favour of Berlin's proposal to eject Greece from the euro for five years.He said he cannot guarantee that his parliament will accept to open negotiations on a third bailout.It is also not sure whether Tsipras will be able to get the terms of the agreement through his parliament. Or that Merkel will get it through hers.Tsipras, on his way out of the summit, said the deal "gives hope of recovery" but acknowledged it will be "difficult to implement" .Meanwhile, for ordinary Greeks, the austerity measures will continue and the answer to the question of when they can start withdrawing more than €60 a day from their bank accounts remains unclear.
Dijsselbloem re-elected as Eurogroup chief By Peter Teffer-JULY 13,15-EUOBSERVER
Brussels, Today, 18:28-Jeroen Dijsselbloem has been re-elected as president of the Eurogroup, the body of eurozone finance ministers, on Monday (13 July), the EU Council announced in a press statement."The Eurogroup reappointed Jeroen Dijsselbloem as president of the Eurogroup for the next 2.5 years. This decision was unanimously supported by all Eurogroup members", the press release said.Dutch finance minister Dijsselbloem has been the second to hold the post, and his fellow finance ministers have now given him a second mandate.He has been praised for his factual and non-emotional approach to the Greek debt crisis, and for being amicable.He was running against Spanish finance minister Luis de Guindos. Spain's prime minister explicitly said he wanted De Guindos to get the post, partly because Spain feels it is its "turn" to receive a big EU post.Ahead of Monday’s Eurogroup meeting, Slovak prime minister Peter Kazimir said Dijsselbloem helped the eurozone finance ministers “to navigate … during the [Greek] crisis, and he did an excellent job”.“I like his style. He's a nice guy”, Kazimir said.Dijsselbloem’s Finnish counterpart, Alexander Stubb – rumoured as a compromise candidate – did not cite his preference before the meeting.“I've gotten to know both gentlemen [Dijsselbloem and De Guindos] over the years. They are very good professionals, they have a good track record in European affairs. … I like both of them”, he said.Jeroen Rene Victor Anton Dijsselbloem, born in 1966, has been Dutch finance minister since November 2012 for the Dutch centre-left Labour party. During Labour's coalition talks with Mark Rutte's centre-right Liberal party, Dijsselbloem was his party leader's right-hand.The coalition is a pragmatic one, and Dijsselbloem is often described as a member of a new generation born in the 1960s of pragmatic, not overtly ideologically-driven Dutch politicians – of which prime minister Rutte is also a part.Dijsselbloem had only been minister for two months when he was elected as second-ever Eurogroup president in January 2013, as successor to then finance minister (and PM) of Luxembourg, Jean-Claude Juncker. Juncker had held the post since 2005.When Dijsselbloem started, the Eurogroup had 17 members. It now has 19.Gaffes-His success comes after something of a false start.In his third month as Eurogroup president, Dijsselbloem received a lot of criticism when Reuters and FT quoted him as saying that the bailout programme for Cyprus, which included a haircut on depositors, was a template for other countries.After the interview caused financial markets to drop and pundits to criticize the statement, Dijsselbloem said he never actually used the word template – something which was proven when the FT published a transcript of the interview.But his subsequent comment, in a Dutch talkshow, that he didn't even know the English word for “template”, also wasn't appreciated by everyone.There was another comment which backfired, when, in January 2014, Dijsselbloem joked on Dutch national TV that his predecessor Juncker had been an “inveterate smoker, and drinker by the way”.“After his departure, the atmosphere has become substantially more Calvinist”, he added with a smile.But although Dijsselbloem has apologized at least twice to Juncker, the joke is said to have shattered Dijsselbloem's chances of gaining a post in Juncker's college of commissioners.Dutch newspaper NRC Handelsblad reported last year that the Dutch government had lobbied for over a year to get Dijsselbloem an important commission post, preferably as commissioner for economic and monetary affairs.The paper noted that Dijsselbloem was not an acceptable candidate for Juncker, and the Dutch government opted to nominate Frans Timmermans instead.The relationship with Juncker has improved.“It was an unfortunate joke that caused a lot of trouble for Jean-Claude. I apologized to him twice, first by telephone, later over a cup of coffee. That should put the affair to rest, you can’t string it out forever”, Dijsselbloem told Dutch magazine Vrij Nederland last month, adding that the relationship between the two presidents is “good”.Greece-It is Dijsselbloem's firm handling of the Greek debt crisis the last months which solidified his re-election.In what could be seen as an endorsement, or at least a rehabilitation, Dijsselbloem received generous praise from Juncker recently.On Monday 29 June, after the Greek government had announced it would hold a referendum, Juncker gave an emotional speech in which he noted “that Mr Dijsselbloem did an excellent job for the last months, an excellent job”.He added that Dijsselbloem “has bent over backwards to reach an agreement over the past few weeks”.After last weekend's marathon meetings – Dijsselbloem had a 14-hour Eurogroup meeting followed by a 17-hour euro summit – Dijsselbloem again received praise for his role.EU Council president Donald Tusk on Monday morning thanked Dijsselbloem (and Juncker) for their dedication and involvement.“Without your hard work, this agreement wouldn't even be possible”, he said.Following the press conference, Dijsselbloem took a few minutes to speak to Dutch press.Did this summit weekend enhance his chances of being re-elected, that same afternoon? “In as far as that was necessary, perhaps”, he said. A few hours later he was back at the Council building. When asked if he stood a chance to be re-elected, Dijsselbloem said: “Certainly”.
UPDATED JULY 13,2015-12:00AM
IN THE NEXT THREE DAYS-GREECE HAS TO PUSH THREW LEGISLATION AND PASS IT IN THE GREEK GOVERNMENT.THAT SAYS GREECE WILL OBIDE BY THE ECB- EUROZONE DEMANDS.AND ALL AUSTERITY WILL BE ACCEPTED.OR THE ECB AND EUROZONE WILL TAKE WHAT THEY WANT-IF GREECE DOES NOT PAY THEIR LOANS. BY MAKING IT OFFICIAL INTO LAW IN THE GREEK GOVERNMENT.THE ECB- EUROZONE WILL BE ASSURED OF GETTING THEIR MONEY BACK.AND JUNKER WANTS GREECE IN THE EUROZONE.
Greece must implement reforms by 15 July-By EUOBSERVER-JULY 13,15
Today, 16:48-The Eurogroup set up on Sunday "far reaching conditionalities" for a new Greek bailout, Finnish finance minister Alexander Stubb said after the meeting. They include "laws that have to be pushed through before 15 July", "tough conditions" on pensions, labour reforms, VAT and taxes, as well as on privatizations.
Summit is about the 'unity of Europe-By EUOBSERVER
12. Jul, 15:43-Sunday's meeting of euro leaders to discuss Greece is not just any old meeting, or any old negotiation, European Parliament President Martin Schulz said. "This is about the unity of Europe," he noted, adding: Euro leaders will be deciding about the "future of Europe."
Hollande warns of Europe going backwards-By EUOBSERVER
12. Jul, 15:36-What is at stake at the euro summit on Sunday "is not only Greece, it is our conception of Europe", French president Francois Hollande said. If Greece was to exit the euro, he said, that would mean "Europe goes backward and not forward anymore".
EU leaders repeat warning on loss of trust-By EUOBSERVER
12. Jul, 16:12-Leaders of Slovenia and Lithuania said Sunday loss of trust in the Greek government is the main obstacle to a deal, echoing finance ministers earlier in the day. "We hope this loss of trust can be forgotten", Slovenia's Cerar said. Lithuania's Grybauskaite said Greece is "changing its opinion every week".
Euro summit considering control over Greek legislation-By EUOBSERVER
12. Jul, 18:34-If an agreement is reached by eurozone leaders on a new bailout, Greece would have to "consult and agree with the institutions on all draft legislation in relevant areas with adequate time before submitting it for public consultation or to parliament," according to the draft discussed at a summit Sunday.
Draft summit conclusions mention temporary Grexit-By EUOBSERVER
12. Jul, 18:17-A draft statement prepared by eurozone finance ministers for the euro summit Sunday mentions a temporary Greek euro exit "in case no agreement could be reached" by eurozone leaders. "Greece should be offered swift negotiations on a time-out from the euro area, with possible debt restructuring," the draft says.
Greece may be forced to set up privatisation fund-By EUOBSERVER
12. Jul, 18:17-Eurozone leaders could decide Sunday to create an "external and independent fund" for Greek assets up to €50 billion, according to a Eurogroup draft statement. The fund, a German demand, would be "managed by Greek authorities" under EU supervision and assets would privatised or used to reduce the Greek debt.
Greek shops, cafes hit by capital controls By Nathalie Savaricas-EUOBSERVER
ATHENS, 10. Jul, 18:18-If you took a walk down a typical street in central Athens, you might not notice the country’s economy is on the brink of collapse.But in fact, thousands of small businesses, which make up for over 90 percent of companies in the debt-stricken country, have barely any income these days.Despite the sale season, clothes shops and electronics stores, for instance, are making few sales. Some prefer to remain shut.The bank holiday, enforced since 27 June, has all-but frozen the local economy, resulting in losses of over €1 billion, according to the Greek commerce confederation.Bank transactions within the borders of Greece are allowed. But for the second week running, Greeks can only withdraw €60 a day from ATMs. Since many banks have run out of €20 notes, in practice it means €50.Meanwhile, fears grow, that if talks go badly in Brussels, the government might be forced to impose a haircut on depositors’ acounts.The situation has prompted some Greeks to spend their money in case they lose it.John, a hotel owner,said he bought himself tickets to go to India and the “most expensive laptop” he could find.Others are buying gold and jewellery.But the panic-buying is an exception.Meanwhile, capital controls have also hit tourism - an important pillar of the Greek economy, which represents one in five jobs.The Association of Hellenic Tourism enterprises says hotel bookings are down 50,000 a day. Its grim forecast is that tourist arrivals will drop by nearly 20 percent this year if the crisis continues.Meanwhile, travel agents are struggling to do their job. Airline companies now request payments up front by credit card or cash, while before people were entitled to 15-day credit.“I cannot issue tickets and had to ask clients to go pay the airline company directly”, says Zefi Papayanni, a travel agent.“The airline companies are right to take these measures - this probably happened because travel agents defaulted.”She is thankful to those foreigners who come. But she sympathises with tourists who fear there might not be fuel for planes or ferries to get them back home. Giorgos, a taxi-driver, said the slow-down is having a huge impact.“I don’t even cover my expenses,” he told EUobserver. He’s been working 12 to 14 hours a day to make €10 to €15 a day.“This is just tragic - if it goes on, I’ll have to think of doing something else.”He has three children and rents his car from another driver.At a cafe, opposite parliament, Alexandros, the son of the co-owner, also complained about a massive drop in income.“No one is coming in. It’s really bad. We only get by thanks to the journalists”, he said, after waiting on a table with three English-speaking reporters.The throngs of TV cameras and satellite dishes have invaded Syntagma square over the past week, with journalists seen doing stand-ups on the balconies of adjacent hotels.As news of the Greek government’s latest proposal materialised, cafe owners’ fears grew.They are to see VAT on their services nearly double, from the current 13 percent to 23 percent.Petros, who co-owns a small but bustling cafe not far from parliament, worries that the tax hike will kill his business.“It’ll finish us - just like that,” he says and snaps his fingers.“Then they’ll wonder if we’ll be tax evading. [But] if we give our income to pay taxes then how are we expected to survive?.”
Euro zone leaders: Greece must do more to earn rescue-Reuters By Renee Maltezou and Andreas Rinke-JULY 12,15-YAHOONEWS
BRUSSELS (Reuters) - Euro zone leaders told near-bankrupt Greece at an emergency summit on Sunday that it must enact key reforms this week to restore trust before they will open talks on any new financial rescue to keep it in the European currency area.Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament to convince his 18 partners in the euro zone to release immediate funds to avert a state bankruptcy and start negotiations on a third bailout program.Six sweeping measures including tax and pension reforms will have to be enacted by Wednesday night and the entire package endorsed by parliament before talks can start, a draft decision sent by Eurogroup finance ministers to the leaders showed.The document also included a German proposal to make Greece take a "time-out" from the euro zone if it failed to meet the conditions for a loan. But not all ministers endorsed the idea, which was reserved in brackets in the text seen by Reuters.A senior EU source said such a temporary exit from the euro was illegal and would not survive in the summit statement.Tsipras said on arrival in Brussels he wanted "another honest compromise" to keep Europe united."We can reach an agreement tonight if all parties want it," he said.But German Chancellor Angela Merkel, whose country is the biggest contributor to euro zone bailouts, said the conditions were not yet right to start negotiations, sounding cautious in deference to mounting opposition at home to more aid for Greece."The most important currency has been lost and that is trust," she told reporters. "That means that we will have tough discussions and there will be no agreement at any price."If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan. Then Eurogroup finance ministers would meet again on Friday or at the weekend to formally launch the negotiations.A Greek government official, in a first reaction to the draft, said: "How can they demand all these measures at the last minute without securing a lifeline to see us through till next week?"A European official said a Eurogroup meeting on Monday could discuss ways to provide emergency finance to keep Athens afloat.A finance ministers' meeting was suspended at midnight after angry exchanges during nine hours of acrimonious debate without a firm recommendation on Greece's application for a three-year loan on the basis of reform proposals submitted by Tsipras.Eurogroup chairman Jeroen Dijsselbloem said that while ministers had made good progress, a couple of big issues were left for the leaders to resolve."The Eurogroup ... came to the conclusion that there is not yet the basis to start the negotiations on a new program," the document sent to national leaders said."Only subsequent to legal implementation of the above mentioned measures can negotiations on the memorandum of understanding commence, subject to national procedures having been completed," it said, in a reference to authorization by national parliaments in countries such as Germany.The draft said Greece needed 7 billion euros by July 20, when it must make a crucial bond redemption to the European Central Bank, and a total of 12 billion euros by mid-August when another ECB payment falls due.It did not say how those needs would be met, and EU officials said finance ministers had been unable to agree on emergency finance.-TEMPORARY GREXIT?-Several hardline countries voiced support for the German proposal that Greece take a five-year "time-out" from the euro unless it accepted and implemented swiftly much tougher conditions, notably by locking state assets to be privatized in an independent trust to pay down debt.But French President Francois Hollande, Greece's strongest ally in the euro zone, dismissed the notion, saying it would start a dangerous unraveling of EU integration."There is no such thing as temporary Grexit, there is only a Grexit or no Grexit. There is Greece in the euro zone or Greece not in the euro zone. But in that case it's Europe that retreats and no longer progresses and I don't want that," he said.European Council President Donald Tusk canceled a planned summit of all 28 EU leaders that would have been needed in case of a Greek exit from the single currency, and said euro zone leaders would keep talking "until we conclude talks on Greece".The finance ministers agreed in principle to seek ways to make Greece's debt burden manageable by extending loan maturities and other steps stopping short of a "haircut" or writedown, provided Athens first implements reforms.They also insisted that the International Monetary Fund must remain fully involved in any third bailout for Athens.At one stage in the debate on Greece's debt sustainability, Germany's hardline Schaeuble snapped at ECB President Mario Draghi: "I'm not stupid," a person familiar with the exchange said. Schaeuble also clashed with the head of the euro zone bailout fund, Klaus Regling, on whether the EU treaty conditions for an emergency loan were fulfilled, another source said.The rules say there must be "a risk to the financial stability of the euro area as a whole or of its Member States".-GREEKS SEE HUMILIATION-Greece's new finance minister, Euclid Tsakalotos, was silent in public but the reaction among some lawmakers in Tsipras' radical leftist Syriza party, still smarting from having to swallow austerity measures they had opposed, was furious."What is at play here is an attempt to humiliate Greece and Greeks, or to overthrow the Tsipras government," Dimitrios Papadimoulis, a Syriza member of the European Parliament, told Mega TV.With banks shuttered for two weeks, cash withdrawals rationed and the economy on the edge of an abyss, some Greeks vented their anger on Merkel and Schaeuble."The only thing that I care about is not being humiliated by Schaeuble and the rest of theme" said Panagiotis Trikokglou, a 44-year-old private sector worker in Athens.Greece has already had two bailouts worth 240 billion euros from euro zone countries and the International Monetary Fund, but its economy has shrunk by a quarter since the crisis began, unemployment has soared above 25 percent and one in two young people is out of work.Athens defaulted on an IMF loan repayment last month and faces state bankruptcy if it cannot make the bond redemption on July 20, which would likely force the ECB to cut emergency funding for Greek banks.Economists said the idea of a temporary exit would mean in practice ejecting Athens from the European monetary union.Paul De Grauwe, a Belgian economist at the London School of Economics, compared it to a couple having a trial separation."Temporary Grexit is like temporary divorce. Most if not all end up being permanent," he said in a Twitter message.The United States has added its voice to calls for a deal this weekend, concerned at the geopolitical consequences if Greece were to be cut loose and become a failed state in the fragile southern Balkans, adjoining the Middle East."No one wants to see a North Korea in southeastern Europe," a European Commission official said.(Additional reporting by Alastair Macdonald, Philip Blenkinsop, Foo Yun Chee, Robert-Jan Bartunek, Tom Koerkemeier, Julien Ponthus, Francesco Guarascio, Julia Fioretti and Alexander Saeedy in Brussels, Michele Kambas and Matthias Williams in Athens, Rene Wagner and Paul Carrel in Berlin and Crispian Balmer in Rome; Writing by Paul Taylor; Editing by Giles Elgood)
