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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/jun/19/greek-crisis-emergency-meetings-tsipras-banks-ecb-live-updates
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| Greek crisis: ECB provides more emergency help as Tusk warns "no more games" - live | Greek crisis: ECB provides more emergency help as Tusk warns "no more games" - live |
| (21 days later) | |
| 6.08pm BST | 6.08pm BST |
| 18:08 | 18:08 |
| On that note it’s time to close up for the evening, and indeed the week. Thanks for all your comments, and we’ll be back next week (unless anything dramatic happens later.) | On that note it’s time to close up for the evening, and indeed the week. Thanks for all your comments, and we’ll be back next week (unless anything dramatic happens later.) |
| 5.55pm BST | 5.55pm BST |
| 17:55 | 17:55 |
| Meanwhile according to Reuters, index compiler MSCI says it is monitoring investors’ access to Greek equity markets. Any restrictions may lead it to change Greece’s to a standalone market from emerging market. MSCI said: | Meanwhile according to Reuters, index compiler MSCI says it is monitoring investors’ access to Greek equity markets. Any restrictions may lead it to change Greece’s to a standalone market from emerging market. MSCI said: |
| Some measures available to Greek authorities to manage the economic situation, e.g., imposition of capital controls, could have a significant impact on the replicability and investability of the MSCI Greece Index and consequently the MSCI Emerging Markets Index. | Some measures available to Greek authorities to manage the economic situation, e.g., imposition of capital controls, could have a significant impact on the replicability and investability of the MSCI Greece Index and consequently the MSCI Emerging Markets Index. |
| Any move would come after a public consultation. | Any move would come after a public consultation. |
| Updated | Updated |
| at 5.59pm BST | at 5.59pm BST |
| 5.55pm BST | 5.55pm BST |
| 17:55 | 17:55 |
| Some evidence is emerging that big banks are becoming even more cautious in their dealings with Greece, writes Jill Treanor. | Some evidence is emerging that big banks are becoming even more cautious in their dealings with Greece, writes Jill Treanor. |
| Morgan Stanley is said to be telling clients that while it is happy to take their orders to buy and sell stocks on the Athens stock market it is less willing to take any risks associated with settling the transactions. | Morgan Stanley is said to be telling clients that while it is happy to take their orders to buy and sell stocks on the Athens stock market it is less willing to take any risks associated with settling the transactions. |
| Barclays is also rumoured to be adding in an extra layer of approvals from its risk management department before dealing in Athens. Neither bank would comment. | Barclays is also rumoured to be adding in an extra layer of approvals from its risk management department before dealing in Athens. Neither bank would comment. |
| 5.48pm BST | 5.48pm BST |
| 17:48 | 17:48 |
| Helena Smith | Helena Smith |
| Over In Athens opposition MPs say prime minister Alexis Tsipras now faces the toughest of choices - either he bites the bullet and accepts implementing €5bn worth of austerity measures or he allows Greece to go bankrupt at the end of the month. Helena Smith reports: | Over In Athens opposition MPs say prime minister Alexis Tsipras now faces the toughest of choices - either he bites the bullet and accepts implementing €5bn worth of austerity measures or he allows Greece to go bankrupt at the end of the month. Helena Smith reports: |
| Ahead of a weekend of what is bound to be feverish negotiation within his party’s own ranks, the Greek prime minister will soon have to make the most difficult of decisions. | Ahead of a weekend of what is bound to be feverish negotiation within his party’s own ranks, the Greek prime minister will soon have to make the most difficult of decisions. |
| “There is no good scenario,” Anna Asimakopoulou, a shadow finance minister with the opposition New Democracy party told me this afternoon. “There is a bad scenario and a worst-case scenario. Either Tsipras agrees to take austerity measures worth €5bn, because that is what the Europeans are asking, or he takes Greece out of the eurozone And the problem is this. He doesn’t have a mandate for either.” | “There is no good scenario,” Anna Asimakopoulou, a shadow finance minister with the opposition New Democracy party told me this afternoon. “There is a bad scenario and a worst-case scenario. Either Tsipras agrees to take austerity measures worth €5bn, because that is what the Europeans are asking, or he takes Greece out of the eurozone And the problem is this. He doesn’t have a mandate for either.” |
| The rhetoric has got so heated in the week since talks between Athens and international creditors broke down that many fear the radical left leader will have no choice but to chose the latter. | The rhetoric has got so heated in the week since talks between Athens and international creditors broke down that many fear the radical left leader will have no choice but to chose the latter. |
| Updated | Updated |
| at 6.00pm BST | at 6.00pm BST |
| 5.40pm BST | 5.40pm BST |
| 17:40 | 17:40 |
| More from EC president Donald Tusk: | More from EC president Donald Tusk: |
| Have discussed #Greece situation with @ECB Draghi, IMF @Lagarde, @JunckerEU & @J_Dijsselbloem to prepare Euro Summit Monday | Have discussed #Greece situation with @ECB Draghi, IMF @Lagarde, @JunckerEU & @J_Dijsselbloem to prepare Euro Summit Monday |
| 5.35pm BST | 5.35pm BST |
| 17:35 | 17:35 |
| US Fed member warns on Greek risk | US Fed member warns on Greek risk |
| More concern from the US over the Greek crisis, as reported by Reuters: | More concern from the US over the Greek crisis, as reported by Reuters: |
| The possibility that Greece’s mounting debt woes could disrupt world financial markets and impact the U.S. economy has been a big topic of discussion at the Federal Reserve, a top Fed official said on Friday. | The possibility that Greece’s mounting debt woes could disrupt world financial markets and impact the U.S. economy has been a big topic of discussion at the Federal Reserve, a top Fed official said on Friday. |
| Though the baseline forecast is that even a Greek exit from the euro zone would not have a large spillover effect on the U.S. economy, there are concerns about the “tail risk,” San Francisco Fed President John Williams said. | Though the baseline forecast is that even a Greek exit from the euro zone would not have a large spillover effect on the U.S. economy, there are concerns about the “tail risk,” San Francisco Fed President John Williams said. |
| 5.22pm BST | 5.22pm BST |
| 17:22 | 17:22 |
| Markets mixed as Greek uncertainty continues | Markets mixed as Greek uncertainty continues |
| After another testing week for the eurozone - and further crisis talks between Greece and its partners on Monday - global markets turned in a mixed performance. The final scores showed: | After another testing week for the eurozone - and further crisis talks between Greece and its partners on Monday - global markets turned in a mixed performance. The final scores showed: |
| On Wall Street the Dow Jones Industrial Average is currently up 52 points or 0.29% higher. | On Wall Street the Dow Jones Industrial Average is currently up 52 points or 0.29% higher. |
| 5.16pm BST | 5.16pm BST |
| 17:16 | 17:16 |
| Russia says Putin and Tsipras did not discuss aid for Greece | Russia says Putin and Tsipras did not discuss aid for Greece |
| The Kremlin said there was no discussion of financial aid for Athens at today’s meeting between Russian president Vladimir Putin and Greek prime minister Alexis Tsipras, according to Reuters: | The Kremlin said there was no discussion of financial aid for Athens at today’s meeting between Russian president Vladimir Putin and Greek prime minister Alexis Tsipras, according to Reuters: |
| Asked whether financial assistance had been discussed at the meeting on the sidelines of the St Petersburg International Economic Forum, Kremlin spokesman Dmitry Peskov said: “No, no, no.” | Asked whether financial assistance had been discussed at the meeting on the sidelines of the St Petersburg International Economic Forum, Kremlin spokesman Dmitry Peskov said: “No, no, no.” |
| Updated | Updated |
| at 5.32pm BST | at 5.32pm BST |
| 4.42pm BST | 4.42pm BST |
| 16:42 | 16:42 |
| An early schedule for Monday’s EU summit: | An early schedule for Monday’s EU summit: |
| From 18.00 (central European time)- Arrival of the Heads of state or government of the Euro area (not in protocol order) | From 18.00 (central European time)- Arrival of the Heads of state or government of the Euro area (not in protocol order) |
| 19.00 - Working dinner | 19.00 - Working dinner |
| At the end of the meeting - Press conference by the President of the European Council and the President of the European Commission | At the end of the meeting - Press conference by the President of the European Council and the President of the European Commission |
| 4.33pm BST | 4.33pm BST |
| 16:33 | 16:33 |
| Another €1.2bn has been withdrawn from Greek banks today, according to Reuters. | Another €1.2bn has been withdrawn from Greek banks today, according to Reuters. |
| That brings the total outflow for the week to €4.2bn amid growing concerns about the lack of a deal between Greece and its creditors. One banker told Reuters: | That brings the total outflow for the week to €4.2bn amid growing concerns about the lack of a deal between Greece and its creditors. One banker told Reuters: |
| Today was a more difficult day compared to yesterday. Monday will likely be tough as well. | Today was a more difficult day compared to yesterday. Monday will likely be tough as well. |
| Monday of course sees a summit of EU leaders, and another meeting of the European Central Bank after it raised the emergency liquidity ceiling for Greek banks today - for the second time this week. | Monday of course sees a summit of EU leaders, and another meeting of the European Central Bank after it raised the emergency liquidity ceiling for Greek banks today - for the second time this week. |
| 4.14pm BST | 4.14pm BST |
| 16:14 | 16:14 |
| And more from eurozone member Slovakia on Greece. Earlier prime minister Robert Fico said his government was ready for Greece to leave the eurozone, although he would rather it didn’t happen. | And more from eurozone member Slovakia on Greece. Earlier prime minister Robert Fico said his government was ready for Greece to leave the eurozone, although he would rather it didn’t happen. |
| Now Slovakia’s finance minister Peter Kažimír has used his Twitter account to chip in , warning Greece to accept reality: | Now Slovakia’s finance minister Peter Kažimír has used his Twitter account to chip in , warning Greece to accept reality: |
| The #Greece window is closing here, and it's closing quite rapidly. | The #Greece window is closing here, and it's closing quite rapidly. |
| What has to come in the coming 72 hours is Sisyphean task on both sides to prevent ' accident'. Athens needs to move now. #Greece #eurozone | What has to come in the coming 72 hours is Sisyphean task on both sides to prevent ' accident'. Athens needs to move now. #Greece #eurozone |
| My personal preference is to reach an agreement which will help #Greece without weakening the strength and credibility of #eurozone | My personal preference is to reach an agreement which will help #Greece without weakening the strength and credibility of #eurozone |
| We are NOT sending #Greece out of the #eurozone, on the contrary. Greece, however, has to accept the reality and stop politicising | We are NOT sending #Greece out of the #eurozone, on the contrary. Greece, however, has to accept the reality and stop politicising |
| PM #Tsipras succeeded to take GR to EZ summit, but institutions need to back all with economically sustainable substance, jointly with EG | PM #Tsipras succeeded to take GR to EZ summit, but institutions need to back all with economically sustainable substance, jointly with EG |
| Updated | Updated |
| at 4.16pm BST | at 4.16pm BST |
| 4.06pm BST | 4.06pm BST |
| 16:06 | 16:06 |
| More demonstrations have been called ahead of Monday’s key summit: | More demonstrations have been called ahead of Monday’s key summit: |
| #Greece Syriza calls for demo "against austerity and for the country's dignity". Sunday 21st June at #syntagma. TRMT @doleross | #Greece Syriza calls for demo "against austerity and for the country's dignity". Sunday 21st June at #syntagma. TRMT @doleross |
| 3.42pm BST | 3.42pm BST |
| 15:42 | 15:42 |
| Greece has to chose between a good deal and default - EC president Tusk | Greece has to chose between a good deal and default - EC president Tusk |
| Monday’s emergency summit of EU leaders was convened yesterday by President of the European Council Donald Tusk, and in a new video he repeated the warning that time is running out for a deal and said the time for games was over. | Monday’s emergency summit of EU leaders was convened yesterday by President of the European Council Donald Tusk, and in a new video he repeated the warning that time is running out for a deal and said the time for games was over. |
| He said the situation was getting critical, with four months of negotiations not leading to the necessary compromise. | He said the situation was getting critical, with four months of negotiations not leading to the necessary compromise. |
| Thursday’s Eurogroup meeting did not manage to break the deadlock and - in a possible dig at noted game theory adherent and Greek finance minister Yanis Varoufakis - he said: | Thursday’s Eurogroup meeting did not manage to break the deadlock and - in a possible dig at noted game theory adherent and Greek finance minister Yanis Varoufakis - he said: |
| The game of chicken needs to end and so does the blame game. This is not a game and there is no time for any games. | The game of chicken needs to end and so does the blame game. This is not a game and there is no time for any games. |
| He said the purpose of Monday’s summit was | He said the purpose of Monday’s summit was |
| to make sure we all understand each other’s positions and the consequences of our decisions. | to make sure we all understand each other’s positions and the consequences of our decisions. |
| We need to get rid of the illusion there will be a magic solution at the leaders level. The summit will not be a final step. There will be long detailed technical negotiations. That remains the job of finance ministers. | We need to get rid of the illusion there will be a magic solution at the leaders level. The summit will not be a final step. There will be long detailed technical negotiations. That remains the job of finance ministers. |
| And in a warning to the Greeks he added: | And in a warning to the Greeks he added: |
| We are close to the point where the Greek government will have to chose between accepting what I believe is a good offer of continuing support, or head towards default. At the end of the day it can only be a Greek decision and a Greek responsibility. | We are close to the point where the Greek government will have to chose between accepting what I believe is a good offer of continuing support, or head towards default. At the end of the day it can only be a Greek decision and a Greek responsibility. |
| President #Tusk @eucopresident on the #Euro #Summit of 22 June on #Greece http://t.co/0328lgEJlz pic.twitter.com/SAMlBHTye7 | President #Tusk @eucopresident on the #Euro #Summit of 22 June on #Greece http://t.co/0328lgEJlz pic.twitter.com/SAMlBHTye7 |
| Updated | Updated |
| at 4.25pm BST | at 4.25pm BST |
| 3.28pm BST | 3.28pm BST |
| 15:28 | 15:28 |
| This would appear to be an obvious move, but still.. | This would appear to be an obvious move, but still.. |
| EURO ZONE MINISTERS TO DISCUSS ON MONDAY HANDLING OF GREEK DEFAULT IF NO NEW GREEK REFORM PROPOSALS ARRIVE: RTRS | EURO ZONE MINISTERS TO DISCUSS ON MONDAY HANDLING OF GREEK DEFAULT IF NO NEW GREEK REFORM PROPOSALS ARRIVE: RTRS |
| 3.16pm BST | 3.16pm BST |
| 15:16 | 15:16 |
| Summary: Greek banks get a lifeline, for now | Summary: Greek banks get a lifeline, for now |
| Time for a quick recap. | Time for a quick recap. |
| The European Central Bank has agreed to a request from Greece for extra emergency liquidity to allow its banking sector to keep running as worried savers continue to withdraw cash. | The European Central Bank has agreed to a request from Greece for extra emergency liquidity to allow its banking sector to keep running as worried savers continue to withdraw cash. |
| The decision means Greek banks should not run out of funds in the next few days, despite the threat that the country could fail to reach a bailout agreement and potentially exit the euro. | The decision means Greek banks should not run out of funds in the next few days, despite the threat that the country could fail to reach a bailout agreement and potentially exit the euro. |
| It appears that the ECB has only given Greek banks enough extra funds to last until Monday night, when EU leaders will hold a summit to discuss the crisis. | It appears that the ECB has only given Greek banks enough extra funds to last until Monday night, when EU leaders will hold a summit to discuss the crisis. |
| Athens made the request after eurozone finance ministers again failed to get close to a deal at talks on Thursday. That triggered renewed fears of a bank run in Greece. | Athens made the request after eurozone finance ministers again failed to get close to a deal at talks on Thursday. That triggered renewed fears of a bank run in Greece. |
| But the streets have been calm today, with depositors telling us that they aren’t prepared to be frightened into emptying their accounts. | But the streets have been calm today, with depositors telling us that they aren’t prepared to be frightened into emptying their accounts. |
| Banking insiders have also said that withdrawals have been manageable. | Banking insiders have also said that withdrawals have been manageable. |
| Greek prime minister Alexis Tsipras has predicted that Monday night’s summit will yield a deal, adding: | Greek prime minister Alexis Tsipras has predicted that Monday night’s summit will yield a deal, adding: |
| “All those who are betting on crisis and terror scenarios will be proven wrong.” | “All those who are betting on crisis and terror scenarios will be proven wrong.” |
| And he remained defiant, telling an audience in St Petersburg that Europe should return to its core values of solidarity and social justice. | And he remained defiant, telling an audience in St Petersburg that Europe should return to its core values of solidarity and social justice. |
| EU finance ministers have sounded generally downbeat today, as they reconvened in Luxembourg [photos here]. | EU finance ministers have sounded generally downbeat today, as they reconvened in Luxembourg [photos here]. |
| George Osborne, Britain’s chancellor of the Exchequer, urged Greece’s government to reach a deal now, before it is too late. | George Osborne, Britain’s chancellor of the Exchequer, urged Greece’s government to reach a deal now, before it is too late. |
| We have entered the eleventh hour of this Greek crisis and we urge the Greek government to do a deal before it is too late. | We have entered the eleventh hour of this Greek crisis and we urge the Greek government to do a deal before it is too late. |
| We hope for the best, but we now must be prepared for the worst. | We hope for the best, but we now must be prepared for the worst. |
| And Germany’s Wolfgang Schäuble says he’s not sure anything “sensational” will be achieved on Monday night. | And Germany’s Wolfgang Schäuble says he’s not sure anything “sensational” will be achieved on Monday night. |