The tablecloth is cut: After the announcement of the Greek Prime Minister Tsipras to let his people vote on the austerity plans, the creditors turn the money tap on. The markets react in panic. In Greece, all banks will be closed this week – just like the stock market. All information Ticker
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The facts: The Greeks drama from weekend leaves for week beginning directly traces: The stock markets worldwide slumped sharply. The DAX started more than 500 points below the value of Friday night. Key messages of the weekend: Prime Minister Tsipras lets citizens vote in a referendum on the austerity measures demanded by the lenders. The utility of the euro countries Greece is not extended. The European Central Bank increased its aid loans for the Greek banks no longer. Until July 6, the banks remain closed now, the stock exchange even until July 7
The current development Ticker:.
Juncker austerity and reform package for Greece defended
14.04 Clock: EU Commission chief Juncker defended the proposed austerity and reform package for Greece. “This is not a stupid austerity package,” Juncker said in Brussels on Monday. It was time, the people of Greece to tell the truth, as the Luxembourg. The Greek government has scheduled a referendum on the austerity program for this Sunday. Juncker called on the Greeks ‘yes’ vote. Until now recommends that the Greek Prime Minister Alexis Tsipras ‘no’.
auto industry to Greece: “euro exit no longer taboo”
13.40 Clock: The German car industry is in a possible euro exit the bankrupt threatened Greece not only negative effects. “A Greek exit from the euro zone can no longer be taboo,” the president of the Association of the Automotive Industry (VDA), Matthias Wissmann said on Monday. “He might – in a wise strategy for the future of the euro zone countries – even help to stabilize the euro zone.” Trust arises by reliability – does not go through further concessions to Greece.
Ex-crisis Spain closes contagion from Greece from
13.15 Clock: The escalation of the crisis in Greece is preparing the government of also for years troubled euro area country Spain by own protestations no contagion worries. The fourth largest economy in the euro zone was “very well prepared” and protected against infection, assured on Monday Economy Minister Luis de Guindos.
The Spanish situation is compared to the Greek “totally different,” de Guindos said in an interview the government radio station RNE. Before an emergency meeting of the government of Prime Minister Mariano Rajoy, he stressed: “No economy is growing as strongly as our in the euro zone and the situation of our banks has from three years ago nothing at all to do with that..”
Merkel wants to offer to Greeks not improve
13.03 Clock: German Chancellor Angela Merkel (CDU) has hopes Athens attenuated to an even better deal of donors. The European principles should not be ignored “. We could perhaps give up shortly We might say we give just search But I say:. Medium and long term, we will therefore take damage,” Merkel said on Monday at the ceremony for 70 . Birthday of the CDU in Berlin. Yield
If the euro zone would lose in the world to influence Europe. Against this background, would the sentence “If the euro fails, Europe fails” are seen. The euro is more than a currency: “It is based on shared trust.”
Merkel urged all parties to the ability to compromise. “If the ability to find compromises is lost, even Europe is lost.” Without the Greek Government to be mentioned directly, she called on Athens to play its own part to solve the problems. Solidarity and responsibility are two sides of the same coin.
Greeks allowed for free bus and subways use
12.46 Clock: In Greece, the population can use all public transport means nothing as long as the banks are closed. This regulation applies to the next Monday including, informed the Minister of Transport of Greece
Merkel open to further discussions
12.31 clock. Chancellor Merkel has openly shown for further talks with the Greek government about the debt crisis. The Chancellor stands for talks with Greek Prime Minister Alexis Tsipras “still available, if he wants that,” government spokesman Steffen Seibert said in Berlin on Monday. The federal government as a whole is “any time” willing to debate when it was wanted in Athens. Seibert added: “It was always our intention to keep Greece in the euro zone.”
Seibert evaluated it as “regrettable” that the Greek side at the weekend, the negotiations on the proposals of the donors’ had unilaterally terminated “. That Tsipras then announced a referendum on these proposals, was “overall a surprising fact” been said the government spokesman
begging letter from Athens. Tsipras wants to negotiate again from 6 July
11.50 Clock: No 48 hours after the seemingly definitive failure of the negotiations with the Euro Group, the Greek Prime Minister Alexis Tsipras an identically worded letter to all heads of state written, in which he announces the resumption of negotiations – to the referendum on July 5. In the letter, which is dated 28 June and the Financial Times present, Tsipras asks also for an extension of the expiring on 30 June utility by a month.
“In order to carry out the referendum in a peaceful and positive climate conduct to which allows the Greek people to make this decision without pressure from the outside, the Hellenic Republic – on June 27 during the meeting of the Euro Group – a request for an extension of the financial assistance program (MAFA ) provided by one month, “says the letter. Unfortunately, this request was not accepted.
“growth of Greece within the euro zone”
According to the words of the negotiations could Tsipras on July 6, the day after the referendum, start again “with a view to an agreement immediately thereafter in accordance with the decision of the Greek people”
. At the end of the letter asks Tsipras, the members of the euro group about “that your government position reconsiders again and support the re-examination of the application of the Hellenic Republic at the finance ministers of the euro-zone in terms of granting “. This decision will “secure tax, financial debt sustainability, which will allow Greece to return to growth in the euro zone” “to our common goal of a mutually beneficial sides agreement, contribute” and a.
Hollande “There are only a few hours”
11.45 Clock: The French president Francois Hollande sees the time for an agreement with Greece trickle. “There are only a few hours before the negotiations are definitely over – especially for the extension of the Greek aid program,” Hollande said after a crisis meeting of his Cabinet. He reiterated: “France is always available to continue the dialogue today or tomorrow Today an agreement is still possible..”
Video: What stock market investors need to know now
EU Monetary Affairs Commissioner: Greeks are IMF rate not pay
11:21 clock: The bankrupt threatened Greece is the opinion of EU Monetary Affairs Commissioner Pierre Moscovici, the overdue on Tuesday rate of around 1.6 billion euros to the International Monetary Fund (IMF) probably do not pay. “It (Greece) is unlikely to make it,” Moscovici said on Monday the French channel RTL.
According to earlier statements by IMF chief Christine Lagarde Greece would then be compared with the Monetary Fund in arrears. Lagarde had ruled out an extension of time for the rate
Greeks isolate themselves completely. Now only one stop the referendum
“Grexit “creator does not expect a” Grexit “
10.45 Clock: Of all the creator of the slogan” Grexit “is in the Greek crisis-clear. This year was not expected to exit from the Athens currency zone, the economist Ebrahim Rahbari and his colleagues from the US bank Citigroup in a study written on Monday. For the coming years the risk of falling “Grexit”.
With the announced referendum Citigroup experts expect a “comfortable majority” for the required reforms and thus with a stay in the euro. Go Following the referendum Rahbari and his colleagues of an extension of the expiring on June 30, utility or an intermediate solution that will give the negotiations until the end of the year. . A replay of the tough negotiating marathon since the beginning is possible at any time, they were limiting
New Franken shock threatens Swiss National Bank intervenes
10.05 Clock: To prevent another franc shock, the Swiss National Bank has apparently intervened. President Thomas Jordan said after reports of Swiss media at an event in Bern, the Swiss National Bank is “to stabilize the market occurred in the market”. The Swiss fear that the Euro breaks through the Greek crisis and subsequently greatly enhances the franc
Greek banks continue their shutters down
09.55 clock. In Greece there was the weekend a real bank run. The Greeks picked billion from their accounts. Now, many banks have shut down their shutters completely, as FOCUS Online reporter Antonia Schäfer got to see on the spot.
Dax recovering after burglary
09.50 Clock: The German stock index (DAX) has already recovered strongly in the first hour of trading. After the index had opened 500 points lower at 9 clock at 11,000 points, it was at 9.50 clock again at 11,150 points.
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Stock Exchange in Athens remains to 7 July closed
09.36 clock. Given the Greek debt crisis and the stock exchange in Athens will be closed in the coming days in addition to the country's banks. As officially announced on Monday, is expected to at least Tuesday not open next week the trading venue. The Greek banks will be closed until at least Monday, the capital was severely restricted
Syriza Board: "A 'Grexit' is for us not an option"
09.31 Clock: A "Grexit" comes for the Greek government, in the words of Syriza politician Giorgos Chondros not in question. "An exit from the euro zone was for the Greek Government never an option and is now not an option", said on Monday in Chondros ARD "Morning Magazine". He is a member of the Party Central Committee. Chondros defended the decision on the reform measures to hold a referendum. The Greek people have a democratic right "to decide their own future". Regardless of the outcome of the referendum, it does not come to a "Grexit"
Varoufakis sacked. Finance etched on credibility of the Euro Group
International Exchanges lose enormously
09.20 Clock: The international exchanges are abgerauscht powerful shortly after the start of trading. The Paris Stock Exchange fell by 4.7 percent, the Amsterdam Stock Exchange by 4.1 percent. The Swiss equity index SMI lost more than three percent
Dax crashes to start more than 500 points down
09.00 clock. The German stock index continues to the escalation of the Greek crisis on the morning crashed deep. The Dax crashed by more than four per cent to below 11,000 points - accurate to 10,963 points
No Cash in Athens -. Machines are supposedly filled by 12 clock
08.50 clock: In Athens, banks remain closed on Monday. Also, most ATMs are empty. According to rumors, the machine will go up 12 clock back to the grid - freshly filled. In the evening, the government had adopted capital controls. The cash payouts to Greeks are limited to 60 Euro, tourists can withdraw unlimited money with foreign credit cards
sell-off in banking stocks - German Bank minus 6 percent
08.24 clock.: In bank stocks is characterized on Monday a sell-off. Title Deutsche Bank were on the exchange platform Tradegate to 8.23 clock traded six percent lower than on Friday at 27.10 euros. Commerzbank title forfeited 6.7 percent to 11.35 euros
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Left: "Merkel has complicity in the Greek crisis"
08.06 Clock: The Left Party has assigned the blame for the current dramatic situation in Greece German Chancellor Angela Merkel (CDU). Should Greece leaving the euro zone, Merkel will "as the Chancellor go down in history, has begun under the perhaps the beginning of the end of the euro zone", party leader Katja Kipping said on Monday in the ARD "Morning Magazine". She wanted the afternoon "take the opportunity to make it clear once again what the geopolitical means for the currency" at the meeting of party and faction leader with the Chancellor.
Because of the escalation of the Greek crisis expected Merkel the party and parliamentary group chairman of the parties represented in parliament at 13.30 clock in the Chancellery. Following a press lower direction is provided. In addition,
meeting in the late afternoon, the deputies of the factions of the CDU, the SPD and Greens at special meetings to also discuss the Greek crisis. At the meeting in the Chancellery also left faction leader Gregor Gysi will clear criticism express. He threw the donors in Bayerischer Rundfunk a "crash course" in front. A solution to the conflict with Athens would derail international donors "for ideological reasons". Gysi expects Merkel a government statement and wants a public debate in the Bundestag
Broker:. Dax is almost five percent lose
07.50 Clock: The escalation of Greece -Crisis likely shake the German stock market on Monday vigorously. The broker IG prized the Dax morning 4.68 percent lower at 10,955 points
At the Düsseldorf broker Lang & amp. Black (LS) the Dax at 7:50 clock at 11,026 points. Biggest loser in premarket trading LS are the shares of Deutsche Telekom and Deutsche Bank with a minus of 2.3 percent. Shares of Munich Re noted down for a single title in the Plus (0.16 percent). The Frankfurt Stock Exchange opens at 9 clock.
The investors disappointment has spread, after they had shown in the past week despite hardened positions of Greece and its lenders still optimistic about an agreement. Over the weekend, negotiations on a compromise had failed but then at the last minute
Next violent stock market losses in Asia
07.38 clock. The descent to the Asian stock markets continues after the failed negotiations for the Greek bailout. In Japan the Nikkei index loses even after initial losses remained robust. Currently loses the main index of the Tokyo Stock Exchange 569 points and thus 2.75 percent . The Shanghai Composite recorded 315 points and 7.52 percent lighter , the Hang Seng Index in Hong Kong lost 1043 point and thus 3.91 percent .
Varoufakis kicked: footnote says it all about the relationship of the Greeks to the Euro Group
As Varoufakis was kicked, Draghi made first a dry wit
07.20 Clock: On Saturday evening, the finance ministers of the euro group threw their Greek colleagues Yanis Varoufakis from the session. Also, ECB chief Mario Draghi was present and, despite the tense situation at a small joke in a position as a participant of the round against the "world" said. Draghi joked, after all, the institutions are likely to be again called "Troika". This term had put virtually on the index a few months ago the Greeks
Greece worries weigh exchanges in Asia and the Pacific
05.33 clock. After the aggravation the Greek crisis started, the markets in Asia and the Pacific, with losses in the new week. Signed the decrees of Greece Prokopis Pavlopoulos head of state and head of government Alexis Tsipras. href="http://www.focus.de/finanzen/news/staatsverschuldung/griechenland-krise-bettelbrief-aus-athen-tsipras-will-ploetzlich-doch-weiter-verhandeln_id_4781736.html?fbc=googleplus-shares"
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