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Foreign Media Reports After Tsipras-Juncker Meeting

tsipras-junckerThe risk of imposing capital controls in Greece has increased considerably, according to a CNBC article which explains the reasons that led to this development. “Greece’s economy and its banking sector are feeling the strain of the reforms-for-rescue deadlock between Athens and its international creditors – and fears are rising that ordinary people’s bank accounts could be next to feel the squeeze,” noted the article.
According to CNBC, the risk of imposing capital controls has now increased significantly due to the outflow of deposits, as well as the financing interruption risk.
“Negotiations have entered the decisive phase, while talks continue to be difficult. The risk of capital controls has increased to 40-50 percent in our view, while the exit risk is currently at the upper end of our 20-30 percent range.”
Furthermore, the German newspaper Bild, published an article on June 4, about Angela Merkel noted that the German Chancellor is very stubborn when it comes to Greece. She wants to save the country from bankruptcy. Furthermore, Bild noted that there was no concrete results after yesterday’s meeting between Greek Prime Minister Alexis Tsipras and the head of the European Commission Jean-Claude Juncker, in Brussels. “The meeting went very well,” said Jeroen Dijsselbloem, head of the Eurogroup.
Alexis Tsipras refused to meet the creditors’s request for the reduction of pensions, noted the German newspaper Die Zeit in an article entitled: “No significant result after yesterday’s meeting.” The newspaper pointed out that, during yesterday’s talks between Tsipras and Jean-Claude Juncker, there was some understanding but not a breakthrough. “Obviously Greece’s lenders are ready to accept a primary surplus,” the German newspaper commented, adding that this is a sign that both sides have come closer to a solution.
Greece and its creditors have failed to resolve their differences, stated the French newspaper Le Monde. The newspaper reported that they still have not reached a solution, even after yesterday’s meeting, since the two sides cannot agree on several issues, such as the pensions’ issue.
Furthermore, BBC reported that Greek Prime Minister Alexis Tsipras said talks in Brussels on Greece’s debt crisis were constructive and he believes “an agreement is in sight.” However, he added that Greece still rejected some proposals put forward by creditors.

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