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21/07/2011
BAGHDAD - A. P. B.
All options are still open to find a new rescue plan for Greece, including the purchase of debt or re-scheduled or the imposition of taxes on banks, before the planned summit in Brussels on Thursday to avoid transmission to Italy and Spain. The talks are still continuing in all directions, where he held a meeting of senior officials of the euro area in Brussels, in which the French side, Secretary General of the Presidency Xavier Musca, who is the negotiations in Paris on the crisis of religion.
said Bruno Cavaliah Chairman of the Department of Economics at Oddo Securities said the "solutions root (such as the intervention of intensive European Central Bank or share risk with the issuance of bonds in euros) are excluded, unless you get a huge surprise, "and believed that" the adoption of partial solutions is possible, but risky because it assumes backward "to pay the debt of Greece.
It remains possible failure Greece to pay dues at the heart of the ongoing discussions in preparation for the summit, the leaders of the monetary union on Thursday, according to sources close to the discussions.
He said he and Finance Minister Francois Parwan expressed optimism Monday in Washington, but he warned that his country would not support a solution supposed "event credit" by the Athens the possible consequences for the consequences of out of control.
But most of the options that assume the involvement of private creditors of Greece pursuant to the demand by Germany's insistence for political reasons, will lead de facto to such an "event" fiduciary or to leave Greece for the payment part of the debt, Re-schedule the debt Greek for example, will be imposed on creditors to modify the benefits payment, what Staaqbh credit rating agencies to reduce the mark, either to buy back debt under consideration, it may not lead to failure to pay dues if they took over Greece, the same process, thanks to loans in Europe.
and gain by such a process is that the cost of the Greek debt markets is very low now, which will reduce the overall size of the country's debt, but in the case of deliberately Relief Fund (EU) to buy back the duties of the Greek himself, the resulting partial disability, payment of dues.
The third option arises development tax private banking in the euro area.
explained French Minister for European Affairs Jean-Unity on Monday evening that this solution "of his good deeds that he is not supposed direct intervention on the part of banks, and will consequently lead to the possibility of failure" is Greek for payment of dues with include the risk of the transmission of the crisis to other European countries.
In the face of these options, remained European Central Bank President Jean-Claude Trichet adheres to its principles was rejected once again "any incident, a credit or default in payment, whether voluntarily or not," and this hypothesis would require the European Central Bank to stop accepting bonds Greece as collateral for lending banks, which then would force governments to support their own banking system in Greece and other countries.
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