[I interpret this report to reveal the emergency meeting will take place this week around
11th Feb 2015. I am convinced that dealing with policy makers and money masters is akin to dealing with the mafia and mob bosses who view you as prey or threat. Yanis’ life may be in danger… ~Ron]
Published: Feb 09, 2015 – 8:25 AM GMT by Lubica Schulczova WBP Online
Euro zone finance ministers are scheduled to hold a special meeting on Wednesday to discuss Greece’s debts, a day ahead of a regular summit of European Union leaders. The heads of the ECB and IMF are expected to attend.
Brussels – Jeroen Dijsselbloem, the head of the Eurogroup, which brings together 19 euro zone finance ministers, said on Friday that the meeting will focus on Greece.
International Monetary Fund (IMF) Managing Director Christine Lagarde will meet new Greek Finance Minister Yanis Varoufakis for the first time on Wednesday during the emergency Eurogroup meeting to discuss the future of the Greek bailout program.
It is widely expected that European Central Bank (ECB) President Mario Draghi may also attend the meeting. Both leaders’ presence confirms that renewed discussions on Greek debt are taken very seriously. [Bold font added for our discussions… ~Ron]
According to reports from Greece, Varoufakis will address the new Greek Parliament on Monday. Afterwards, he wants to finalize his proposal for a “bridging deal,” an alternative to the bailout extension for the current bailout which will expire on February 28. The proposal will be presented at the Eurogroup meeting on Wednesday.
Tough talks ahead
The Eurogroup meeting will probably bring some heated discussions.
Varoufakis has said that Greece wants “a bridging program between now and the end of May, which would give us space – all of us – to carry out these deliberations and in a short space of time come to an agreement.”
However, Dijsselbloem told reporters when asked about Greece’s requests: “We don’t do bridging loans.”
“It will be a first step in how we want to proceed together in the next weeks, months. I assume a lot of differences need to be bridged,” he added.
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Cameron Chairs Meeting to Discuss Grexit Possibility
On Monday morning [9th Feb 2015] UK Prime Minister David Cameron met with senior officials to review the potential impact of a Greek default or exit from the eurozone.
The meeting was attended by the head of the Treasury, Nick Macpherson, the Treasury’s director of financial stability, Lowrie Kahn, and the Bank of England’s international director Phil Evans.
Fears that the threat of a eurozone breakup possible increased in the wake of last week’s news that the European Central Bank (ECB) will no longer accept Greek bonds as collateral and the statement of Greek prime minister Alexis Tsipras on Sunday rejecting an international bailout extension. –FX Examiner