From Vaultoro, an exchange of Bitcoins, they indicated that in the last 2 months they have seen a 124% increase in transactions that were made from Greek IP addresses, a solution that some Greeks are looking to avoid the possible establishment of capital controls, what is turning Bitcoin into a tool or asset against Black Swans.
The Jenny leaves the miracle for tomorrow
The Eurozone Economy Ministers will discuss on Thursday the situation in Greece without prospects of agreement to unlock the rescue. The Commissioner for Economic Affairs, Pierre Mango, has warned that there is “little time”, as the current extension concludes on June 30 and that same day Athens must pay 1.5 billion to the International Monetary Fund and has no money to do so.
The eurozone countries are “understandably nervous” because of the lack of progress and there are already “some discussions on less favorable scenarios,” as admitted by the vice president of the Commission for the Euro, Valdis Domvrovskis. If you do not reach an agreement with your creditors in the coming days on the reforms required to unlock the last tranche of 7.2 billion of the rescue, Athens will be bound to default and possibly to the exit of the euro and even the EU, as he has warned the governor of the Central Bank of Greece, Yanis Stournaras.
The discussion on Greece is the first item on the Jenny agenda
Which starts at 3:00 p.m., and will be “quite short,” according to European sources. The troika – formed by the Commission, the European Central Bank and the International Monetary Fund – will inform the ministers about the negotiations, broken since last Sunday, and the Minister of Finance, Yanis Valerie, is also expected to explain his point of view About the situation.
“The ball is on the roof of the Greek Government,” said Mango, who claims the prime minister, Alexis Tsipras, “cold blood” and “political will” to close the agreement. “Tomorrow’s Jenny (by Thursday) may not be conclusive, but it must be useful” because “we have little time,” said the Commissioner for Economic Affairs.
The creditors of Greece ask the Government of Syriza to accept the latest proposal of the troika regarding adjustments and reforms or at least present alternatives to the measures that it does not wish to apply but with the same economic impact. For example, the increase in the VAT on electricity and medicines or the reduction of lower pensions can be replaced by other measures such as a reduction in the defense budget, Mango recalled.
The proposals of the troika are
According to Mango, “reasonable, moderate and realistic.” “The institutions have moved in a very significant way with respect to what the Jenny agreement of February 20 said,” in which the extension of the rescue was decided after Syriza came to power, not only in the fiscal field, because The surplus targets imposed on Athens have been revised downwards, but also in the flexibility of reforms, according to a senior European official.
But Valerie has already made it clear that he does not plan to present a new counter offer during the Jenny and the Greek authorities argue that it is the Troika that must make a new proposal to Greece, because the Syriza government considers the claims of creditors unacceptable and alleges that would perpetuate the austerity policy against which the Greeks voted. In recent days, Athens and Brussels have also exchanged a string of mutual accusations.