Beware Schäuble bearing gifts…

The Greek government has secret hopes for a new loan for Greece, shortly before Schäuble’s arrival in Athens.

As PROTO THEMA unveiled last Sunday, before the Troika heads left Greece, the European Commission envoy Matthias Morse informed Maximos Mansion and the Finance ministry of a plan to cover entirely the financing gap that may be created in Greece up to and including 2016.

Asked bout the PROTO THEMA story, a member of the governmental economic team said "let’s hope it will happen."

 
New loan until Greece reaches the markets

This plan provides that on July 18 Schäuble will announce that the German government and the European partners of Greece support the efforts of the Greek people.

He will remind the commitment made two months ago by the European Finance ministers to Yannis Stournaras, that they will find an alternative solution to the problem of regulations that prevent European central banks to not redeem the Greek government bonds at maturity as agreed last February in order to make the Greek debt viable and keep the IMF in the program.

He is expected to say that EU discusses to preventively adopt a third loan that will not only cover 5.6 billion euros of these bonds in case the Greek State is asked to pay, but also any funding gap that will emerge in the Greek program in the coming years. With today’s figures this is estimated at least at 11 billion euros (4.6 billion for 2014 and 6.5 billion for 2015).