World news and comment from the Guardian | guardian.co.uk |
- Melbourne 'Isis recruit' sought advice about travel to Middle East online
- Mark Lippert, US ambassador slashed in South Korea, leaves hospital
- Argentina helicopter crash: 10 dead, including French sporting stars
- India’s Daughter documentary receives star-studded premiere in US
- 10,000 copies of The Interview to be sent to North Korea by balloon
- New Zealand prime minister says poison threat to milk powder ‘ecoterrorism’
- The sea otter hunter - in pictures
- Why would anyone want to shoot a sea otter?
- Sri Lankan court imposes travel ban on former defence secretary Rajapaksa
- Thomas Sankara's sprit shines at Burkina Faso film festival
- Parents who praise children too much may encourage narcissism, says study
- Netherlands' justice minister resigns in drug money scandal
- Indonesia will 'fulfil legal rights' of death row prisoners including Bali Nine duo
- Australian self-styled 'guru' convicted of repeatedly raping three girls in France
- North Korea digging ever deeper to keep its economy afloat
- Bus driver's GPS failure takes ski tour on 750 mile detour to wrong La Plagne
- UN: torture in Mexico occurs with 'impunity' at hands of security forces
- Venezuela sanctions: Maduro fumes at 'imperialists' as US targets officials
- Eurogroup meeting: Ministers agree to start Greek technical talks - as it happened
- Republicans threaten that Iran nuclear deal may not survive Obama presidency
| Melbourne 'Isis recruit' sought advice about travel to Middle East online Posted: 10 Mar 2015 12:23 AM PDT The 'white jihadi', identified as 18-year-old Jake Bilardi from Craigieburn, appears to have posted questions in forums before leaving for overseas Continue reading...      |
| Mark Lippert, US ambassador slashed in South Korea, leaves hospital Posted: 10 Mar 2015 12:19 AM PDT Envoy sustained wounds to face and arm when man shouting about US military drills attacked him at official function Continue reading...      |
| Argentina helicopter crash: 10 dead, including French sporting stars Posted: 10 Mar 2015 12:14 AM PDT Olympic gold medalist swimmer Camille Muffat and Olympic boxer Alexis Vastine among those killed as reality TV show filming ends in disaster A group of French sports stars participating in a reality TV show were among 10 people killed Monday when their helicopters collided in mid-air while filming in northwestern Argentina. Champion sailor Florence Arthaud, Olympic gold medalist swimmer Camille Muffat and Olympic boxer Alexis Vastine were among those killed when two helicopters filming the survival series "Dropped" crashed into each other in the rugged mountains of La Rioja province, local officials said. Continue reading...      |
| India’s Daughter documentary receives star-studded premiere in US Posted: 09 Mar 2015 11:42 PM PDT Meryl Streep and Freida Pinto pay tribute to the young medical student whose brutal death is the subject of the film A rape documentary banned from airing in India received its US premiere at a star-studded event that included actresses Meryl Streep and Freida Pinto. The screening of "India's Daughter" at Baruch College began Monday with a vigil as Oscar-winner Streep lit about a dozen candles honouring the Indian medical student who died after being gang-raped on a bus in 2012. Organizers said about 650 people attended the event. Continue reading...      |
| 10,000 copies of The Interview to be sent to North Korea by balloon Posted: 09 Mar 2015 11:14 PM PDT South Korean activists will take part in mass launch of balloons with the Hollywood film attached this month despite threats from Pyongyang South Korean activists vowed Tuesday to sneak copies of Hollywood satire "The Interview" across the border by propaganda balloon later this month, in defiance of North Korea's repeated threats. Up to 10,000 copies of the film - a comedy about a fictional CIA plot to assassinate North Korean leader Kim Jong-Un - and 500,000 political leaflets are scheduled for a balloon-launch around 26 March. Continue reading...      |
| New Zealand prime minister says poison threat to milk powder ‘ecoterrorism’ Posted: 09 Mar 2015 11:06 PM PDT Packages containing dairy formula which tested positive for 1080 were sent to farmers' groups by anti-pesticide protesters Continue reading...      |
| The sea otter hunter - in pictures Posted: 09 Mar 2015 11:00 PM PDT Peter Williams hunts sea otters for food and to make into clothes. Can he revive a forgotten and once‑forbidden Native American hunting tradition? Continue reading...      |
| Why would anyone want to shoot a sea otter? Posted: 09 Mar 2015 11:00 PM PDT A century ago, the sea otter was almost wiped out by demand for its fur. Now, after decades of conservation, it thrives in Alaska. Can one man revive a forgotten and once‑forbidden Native American hunting tradition? • The sea otter hunter – in pictures Continue reading...       |
| Sri Lankan court imposes travel ban on former defence secretary Rajapaksa Posted: 09 Mar 2015 10:42 PM PDT Gotabhaya Rajapaksa, brother of the former president, has his passport taken as part of investigation into large arsenal of weapons found in ship A Sri Lankan court on Monday banned the former president's brother, Gotabhaya Rajapaksa, from leaving the country as police probe private arsenals set up during the previous regime's decade in power. A magistrate in the southern port city of Galle impounded former powerful defence secretary Rajapaksa's passport along with those of three others, police said in a statement. Continue reading...      |
| Thomas Sankara's sprit shines at Burkina Faso film festival Posted: 09 Mar 2015 10:00 PM PDT Fespaco, Africa's largest film festival, breathed politics but suffered from a lack of funding in the fragile aftermath of the country's revolution, reports Oris Aigbokhaevbolo Continue reading...      |
| Parents who praise children too much may encourage narcissism, says study Posted: 09 Mar 2015 09:43 PM PDT Researchers following more than 500 children say parental warmth may be a better strategy than inflating the ego Children who are told they are special by their parents are more likely to become narcissists, according to a study that aimed to uncover the origins of extreme selfishness. The research in the Proceedings of the National Academy of Sciences, a peer-reviewed US journal, is based on 565 children in the Netherlands who were surveyed over the course of a year and a half, along with their parents. Continue reading...      |
| Netherlands' justice minister resigns in drug money scandal Posted: 09 Mar 2015 09:38 PM PDT Ivo Opstelten quits over untaxed payment of millions of Dutch guilders to a convicted trafficker known as Cees H The Dutch justice minister has resigned in an ongoing scandal over a deal amounting to millions of euros that was struck by prosecutors with a famous drug trafficker 15 years ago. "There has been uncertainty over this matter for too long," Ivo Opstelten told journalists at a press conference in The Hague on Monday night. Continue reading...      |
| Indonesia will 'fulfil legal rights' of death row prisoners including Bali Nine duo Posted: 09 Mar 2015 06:51 PM PDT Attorney general HM Prasetyo says he will respect court proceedings for the 10 prisoners scheduled to be executed Continue reading... |
| Australian self-styled 'guru' convicted of repeatedly raping three girls in France Posted: 09 Mar 2015 05:11 PM PDT Sean O'Neil sentenced to 19 years for abuse of girls aged about 15, which included forcing them to live as naked 'slaves' and recite mantra 1,700 times a day An Australian man who passed himself off as a Hare Krishna "guru" has been sentenced to 19 years in jail in France for repeatedly raping three teenage girls. Sean O'Neil regularly raped the girls between 2009 and 2010 while they were aged about 15 and made psychologically dependent on the Australian. One expert testified that the girls cooperated because they were in a trance-like state approaching "hypnosis".       |
| North Korea digging ever deeper to keep its economy afloat Posted: 09 Mar 2015 04:00 PM PDT The global commodity price crash has hit Kim Jong-un's hermit kingdom hard, but Chinese investment is keeping its mining sector going The sharp fall in global commodity prices is starting to have an impact on North Korea, economists say, hurting a state that relies heavily on exports of minerals to keep its economy afloat – and its gargantuan military funded. Combined with China's economy coming off the boil, the recent slump in coal prices in particular could hurt Kim Jong-un's byungjin policy: his stated desire to simultaneously develop North Korea's economy and its nuclear weapons programme. Continue reading...      |
| Bus driver's GPS failure takes ski tour on 750 mile detour to wrong La Plagne Posted: 09 Mar 2015 03:19 PM PDT Bus driver relying on the satellite navigation drives to La Plagne in southern France instead of ski resort of same name in the Alps A bus driver tasked with taking 50 Belgian tourists to a French ski resort got his GPS directions wrong, and made a 750 mile (1,200km) detour, according to Belgian radio. "There are three entries for La Plagne in France, and I selected the wrong one," the driver told Studio Brussel radio, the youth channel of publicly owned VRT, which organised the failed holiday. Continue reading...      |
| UN: torture in Mexico occurs with 'impunity' at hands of security forces Posted: 09 Mar 2015 02:52 PM PDT Report based on a fact-finding visit to Mexico last spring outlines methods used during detentions to combat crime that include waterboarding and rape Continue reading...      |
| Venezuela sanctions: Maduro fumes at 'imperialists' as US targets officials Posted: 09 Mar 2015 02:44 PM PDT
Venezuela called its highest-ranking diplomat in Washington back to Caracas in a further escalation of tensions as the Obama administration imposed sanctions on members of the government of President Nicolás Maduro, who promised to retaliate against the "imperialist elite" in the US. Monday's announcement that Maximilien Sánchez Arveláiz would return to Caracas, came as the US ratcheted up its diplomatic row with Venezuela, declaring the country a national security threat and expanding targeted sanctions to an additional seven top government officials. Related: 'Deeply concerned' Obama imposes sanctions on Venezuelan officials Continue reading...      |
| Eurogroup meeting: Ministers agree to start Greek technical talks - as it happened Posted: 09 Mar 2015 02:04 PM PDT Rolling business and financial news, as eurozone finance ministers gather in Brussels
And that, I think, is that for this evening. A quick recap. We agreed today that there is no further time to lose. Discussions between the Greek government and the institutions will start on Wednesday in Brussels... in parallel, technical teams from the institutions will be welcomed in Athens. At presser @J_Dijsselbloem confirms "technical teams" from bailout monitoring institutions to head to #Athens as of Wed. #Greece #Eurogroup #Eurogroup @J_Dijsselbloem 'there can be no talk of disbursement' without agreement and implementation #Greece "There has been no time wasted, not by the Greek government....We were very speedy." "The idea of troika visits, comprising cabals of technocrats from the three institutions in lockstep walking into our ministries and trying to implement a programme which has failed ... that is a thing of the past" Varoufakis, minister, academic, editor-in-chief of all media Boom! "@graemewearden: If other eurozone ministers miss the Troika so much we can send it to them - @yanisvaroufakis http://t.co/BNpP8U9JLH"
I'm afraid I didn't really catch the last question, but I think it was whether Varoufakis had held discussions with his Portuguese counterpart. Varoufakis insisted he had not; the pair were on opposite side of the eurogroup table.
Just to clarify... when asked about Greece's cash position (twice), Yanis Varoufakis replied that the liquidity position of Greece will be guaranteed by the Greek government in conjunction with its international lenders.
Mario Draghi doesn't need any advice from me.... our job is to start the work to create the confidence that the ECB wants to see. Every party will do what's necessary to make this deal work, Varoufakis adds.
We are all very excited that we will start technical discussions in Brussels on Wednesday, Varoufakis says.
A second question on Greece's funding position: A @Bloomberg reporter says @yanisvaroufakis' failure to answer my Q on #Greece's cash position creates uncertainty. YV still doesn't answer.
#Varoufakis denies speculation of Deputy PM #Dragasakis taking over negotiations, says 2 in perfect cooperation #Greece
Varoufakis also denies that Greece's deputy prime minister will take the lead in negotiations with its creditors. That's another example of poor reporting by the media, he says. "Particularly poor journalistic standards" have been mentioned several times during Varoufakis presser. #Eurogroup
Whichever editor wrote the headline in Corriere della Sera should consider apologising, declares Varoufakis, returning to that referendum story. It's always the editor's fault... Again: reporters are cool, it's always the editor's fault. #Varoufakis: I said if every single one of our proposals is rejected (which has NOT happened) then we go to a referendum. #eurogroup
Varoufakis "There was clearly some misunderstanding between the press and Mr. Dijsselbloem and me" (would hate to be Yanis' Flack after this
The webfeed just crashed briefly during a question about Greece's reform plans...but fortunately Kathimerini is on the case: #Varoufakis: unilateral actions not in the cards, but #Greece can't possibly ask permission for every single move #Varoufakis: our list of reforms was meant to be incomplete #Greece
Varoufakis: Talk of referendum was in response to 'hypothetical question' #Greece #Eurogroup pic.twitter.com/otdZITKiQH
Varoufakis declines to answer a question about whether Greece is running short of cash. Got a Q in to @yanisvaroufakis asking him for an update on govt's cash position & whether cash in agency accts accessed. He didn't answer.
Yanis Varoufakis is now laying into the media, for reporting that he had claimed Greece could hold a referendum if its creditors rejected its reform measures. This is a reference to Sunday's interview with Italy's Corriere della Sera. Varoufakis: "No misunderstanding. ..Purely poor journalistic standards" "@777mingus: #Varoufakis says Corriere della Sera #Grexit report "descended to pure journalistic depravity""
Some instant reaction: #Varoufakis: will welcome members of "institutions" to GR, but idea of the 3 arriving together, imposing, like old troika is thing of past Now the Troika can actually continue to be called Troika, they only need to travel independently... Varoufakis must be programmed from his university lecturing days to speak in hour-long spurts.
Another reporter reminds Varoufakis that eurogroup chief Jeroen Dijsselbloem was adamant that the last two weeks have been a complete waste of time. The fact that Dijsselbloem and I can disagree about this is part of Europe's magic, he replies.
What about the return of Troika officials to Athens, as Jeroen Dijsselbloem announced today? Varoufakis is adamant that the Troika is dead. The days of officials from the three institutions (IMF, EU, ECB) "marching in lockstep", imposing measures on Greece, are over.
Varoufakis says there has been a 'serious misunderstanding' by some members of the press. The list of seven reforms he sent to Brussels last week was never means to be a comprehensive list, as some reporters claimed. It was just a starting point.
Varoufakis denies that the Greek government has frittered time away. No time has been wasted, he says.
Onto questions, and Yanis Varoufakis is asked whether he minds that several eurozone finance ministers insist on referring to 'the Troika' (rather than 'the institutions'). Smiling, Varoufakis says he is fairly relaxed that some ministers, perhaps through inertia, insist on using that old term.
The press conference is being streamed here, by the way.
I am pleased that we can announce that, starting on Wednesday, our team will start work with officials from the institutions in Brussels, Varoufakis adds.
Here comes Yanis Varoufakis.... He looks fairly cheerful. Today's meeting was an important step forwards in implementing the agreement of 20 February, he says.
Heads up: Greek finance minister Yanis Varoufakis is about to give a press conference about the eurogroup meeting. Much smaller group waiting for @yanisvaroufakis presser than last few #eurogroup meetings pic.twitter.com/zfntCzxWIb
Back in Brussels, France's finance minister Michel Sapin is telling a press conference that it's important to stop mentioning 'the troika'. "It's imporant to make that effort" of not speoking abt the troika anymore, says Sapin.
You have to admire the Greek government's timing. Just as eurogroup president Jeroen Dijsselboem was lamenting the "waste of time" Greece's international creditors have witnessed in recent weeks, the Athens government was releasing a statement called: "ERT (the state TV channel) is returning. Sacked employees will return to work."
Eurozone finance ministers are now flooding out of the eurogroup meeting: Belgian Finance Minister on result of the #Eurogroup meeting: #Greece has a lot of homework to do
The last question goes to Peter Spiegel of the Financial Times, who hits the bullseye by asking a technical question about €500m that was returned to the European Financial Stability Fund (EFSF) last month (as part of a larger transfer of funds). Regling just made a sweet €555ml gift the Greek gov't. Klaus Regling says 500m in HFSF from fees paid in by Greek banks predated 2010 "before we started lending to Greece, we've no claim on that"
Dijssebloem acknowledges some MS thought Commission too soft on France. Moscovici defensive, says Commission unanimous. Moscovici stresses that decision to grant #France another deficit target delay was taken unanimously by college of commissioners.
Next question goes to Jeroen Dijsselbloem: Did you discuss your plan to run for a second term as eurogroup president with other ministers, such as Spain's Luis De Guindos (rumoured to be planning his own bid)? Dijsselbloem replies that his term runs until the summer, so it's too early for a candidacy. As @J_Dijsselbloem asked about his candidacy for 2nd term as #Eurogroup chair, @pierremoscovici grins like a cheshire cat!
Mario Draghi was very clear about the important of Europe's growth and stability pact at today's meeting, Dijsselbloem says.
Should Greece be allowed to issue more short-term debt to get around its funding squeeze? That's up to the ECB, not me, Dijsselbloem ducks with aplomb.
Dijsselbloem reiterates that constructive talks must start now: Dijsselbloem: Real talks haven't really started yet. Only thing I know is that they will start on Wednesday. #Greece
Dijsselbloem: I'm open to an early disbursement but only with an agreement on whole program and progress on implementation.
Onto questions.... What discussions took place with Greece over its reforms? Jeroem Dijsselbloem confirms that the Greece government outlined some reforms in its letter last week, but that they weren't the full proposals. There can be no talk about early disbursement if there is no agreement and no implementation. No early disbursements if there is no agreement on the whole package or no implementation - says @J_Dijsselbloem #Eurogroup #Greece We have spent the last two weeks discussing who will meet who, where, and in what configuration. It's been a complete waste of time...
Moscovici, the former French finance minister, embarks on a lengthy explanation about the importance of sticking to Europe's deficit rules.... #Eurogroup @pierremoscovici protests a bit too much about france and stability pact credibility. sounds like he means his own credibility
At presser, @pierremoscovici talks about #Greece in French and about #France in English. Hmmm.
Commissioner Pierre Moscovici now has the microphone, and says that Cyprus must implement a foreclosure law to help banks act on bad debts. It would be a great pity of Cyprus's impressive progress over the last two years were slowed, Moscovici said.
Dijsselbloem adds that Greece has committed not to take unilateral actions, and not to roll back on reforms that have already been adopted.
"Today we had a short discussion on Greece," says Jeroen Dijsselbloem, on the process that should have started after our meeting two weeks ago. We agreed there is no further time to lose. Technical talks will start on Wednesday, he confirms. #Eurogroup @J_Dijsselbloem troika types could go to athens on wednesday At presser @J_Dijsselbloem confirms "technical teams" from bailout monitoring institutions to head to #Athens as of Wed. #Greece #Eurogroup
Austria and France need to make more progress to meet the Europe's growth and stability pact, Dijsselbloem says. Particularly France, which has already been given a two-month extension to get in line. Other countries have made encouraging progress, though.
Dijsselbloem starts by pointing out that fewer journalists have turned up than usual. Maybe they're at another press conference, he jokes. (Is Yanis Varoufakis talking somewhere?!.....) Today's meeting tied up some loose ends from earlier meetings, looked at the Greek financial programme, and also considered the eurozone services industry, he says.
The press conference is starting now. Eurogroup president Jeroen Dijsselbloem, European Commissioner Pierre Moscovici, and Klaus Regling, CEO of the European Financial Stability Facility, are here to entertain us.
Waiting for the #Eurogroup press briefing to start #Greece pic.twitter.com/7A99Wj30Bo
OK, the eurogroup press conference is about to start. It's being streamed live here.
Greek officials are not hiding their frustration at the reappearance of the dreaded word "Troika" in statements made by several euro zone finance ministers today, reports Helena Smith. The German finance minister Wolfgang Schauble, no less, used it four or five times - in what some are calling a deliberate act of spite. "Why couldn't he just say institutions? We agreed on February 20th that there was no more Troika." Possibility of sending "troika" officials to Athens Wednesday raised in #eurogroup meeting. Unclear if @yanisvaroufakis consented. #Greece
The Eurogroup meeting is over! Is that a record? It's certainly the quickest meeting in recent weeks. #Eurogroup just finished Eurogroup press conference at 1855 CET. Whoop whoop!
The Greek government has just released a statement describing today's euro group as a "success", because four key points were agreed. "The Greek government will continue enriching the list of reforms with additional proposals that it will elaborate on. "The reforms will be part of a National Plan for Reconstruction and Growth."
Greek insiders are also confirming that technical talks will start on Wednesday, in Brussels... Technical discussions on #Greece will start on Wednesday in Brussels according to Greek sources
The Greek government is roundly denying that anyone other than finance minister Yanis Varoufakis will lead negotiations with its creditors (as was rumoured earlier), Athens correspondent Helena Smith writes. And Panos Kammenos, who heads the left-led coalition's junior partner, the Independent Greeks party, has tried to put on a brave face on the eurogroup meeting.. "We have good news from Brussels...The finance minister communicated with the prime minister and told him that the agreement of February 20th is being upheld." #Greece govt sources say Eurogroup's outcome is "positive", Gr proposals were accepted (politicaly) by the Eurogroup (@capitalgr )
Another photo from inside the eurogroup; it's Yanis Varoufakis speaking with Greek delegation members before the meeting began.
Another newsflash from Brussels -- technical talks between Greece and its creditors will begin on Wednesday: * EU officials say Greece to open technical reform talks with EU, ECB, IMF experts in brussels on Wednesday - RTRS
Short debate on #Greece at today's Eurogroup to allow Varoufakis to fly back pronto & gain time for his pressing homework #VaroufakisLetters
Here's Reuters' story, confirming that eurozone ministers have already finished discussing Greece at today's meeting (which only started around 90 minutes ago). Euro zone finance ministers concluded their discussions on Greece on Monday and have said progress must be made now, an EU official said, adding that the ministers would not publish a joint statement on the issue. "It's over," the official said of the Eurogroup discussions on Greece. Ministers said "we must move forward now," the official said.
If they were trying to set a record... #Greece MT @TradeDesk_Steve pic.twitter.com/m94cIlKK0q
That was quick! The Greek section of today's eurogroup meeting is over, according to Reuters:
Some pictures from the eurogroup meeting have just arrived, showing ministers chatting - and in some cases even hugging - before getting down to work.
Greece may have got the message. A government official in Brussels has said that Athens is ready to submit more reform proposals for technical discussion. There are also reports that three new measures are ready, designed to improve tax collection and fight evasion:
Slovakia's finance minister (or at least his media team) has tweeted that Greece face the "naked truth" over its bailout programme, and start technical talks with its creditors. #Greece needs to face naked truth. The longer they speculate the worse for them and for us #eurozone. Tech talks need to start ASAP
OK, all the eurozone ministers have arrived for this afternoon's eurogroup. The running theme as they arrived was that Greece needs to hurry up and deliver firm reforms, so this could be a testy meeting... Eurogroup doorsteps wrap-up: Except for Moscovici, there seems to be widespread frustration at time being wasted. #Greece
Back in Athens... government insiders are denying that the deputy prime minister will take the lead in negotiations with Greece's creditors, as Ireland's finance minister said a few minute ago. Athens (govt sources) rejects that Dragasakis and not Varoufakis will lead negotiations with the "institutions" #Greece via @capitalgr
Greece's Yanis Varoufakis has arrived at the meeting, but I haven't seen any quotes from him:
Spanish finance chief Luis de Guindos has echoed Wolfgang Schauble's use of the T-Word. He told reporters outside the eurogroup meeting that ministers must listen to Yanis Varoufakos, then to the Troika, than start working. A bit surprised at how many #eurozone finance mins using word "troika" on way into #eurogroup. Sign of their mounting frustration? #Greece
Slovakia's finance minister has also urged Greece to produce firm proposals: Slovakia's Kažimir: Too early to judge Greek proposals "We are waiting for the real numbers" #Greece #Eurogroup pic.twitter.com/d1O4qzek9Z
Eurogroup chief Jeroen Dijsselbloem warned several times that Greece must stop wasting time and start delivering , as he arrived at today's Eurogroup meeting. Dijsselbloem: We have said that we will support Greece further if they continue on the reform path. And I think that the talks about the programme and the reforms that are needed should restart very very quickly. We're losing too much time. Dijsselbloem: That is up to the Greeks to secure... we stand ready to support them on the basis of further progress in the programme. We seem to be losing time now - since the last eurogroup little has been done in terms of future talks, in terms of implementation. The key issue now is not to waste any more time. Dijsselbloem: It was a welcome contribution to the process....I have sent it onto the institutions. It can be part of the talks between the institutions and the Greek government which have to start very, very soon. We have lost over two weeks in which very little progress has been made. The real talks haven't started yet, there has been no implementation. So we have to stop wasting time and really start the talks now, seriously. Dijsselbloem: I won't go into the whole list and the reform programme. My key message is the talks have to start, rather today than tomorrow, and we shouldn't waste so much time. The extension is only for four months, and the time is ticking away...
Malta's finance minister, Edward Scicluna, told reporters that the Greek reform programme "needs a lot of work" as he arrives at the eurogroup meeting.
Ireland's finance minister, Michael Noonan, has told reporters that Greece's deputy prime minister Yannis Dragasakis will lead negotiations with its creditors, rather than finance minister Yanis Varoufakis. #Eurogroup irish finmin says real negs with troika to be run by greek deputy pm, not @yanisvaroufakis #Ireland FinMin Noonan w an xclusive: The Greek gov't has decided that negotations will be centered at Deputy PM's office. | Not Varoufakis?
Did the eurogroup not get the message that Greece is no longer under the control of the Troika? #Eurogroup schaeuble greece is now a matter for the troika. very explicit. he's said troika 3/4 times already Schaeuble: Making repeated references to "Troika" #Greece #Eurogroup pic.twitter.com/TJ7sfssm4T
Here comes Wolfgang Schauble.... Wolfgang Schauble just arrived at #Eurogroup pic.twitter.com/meDMjXJEvJ
More quotes from Jeroen Dijsselbloem, urging Greece to up its game. we have to stop wasting time, that's my message today, #Dijsselbloem says. #greece #eurogroup #Dijsselbloem: little has been done since the last #eurogroup, we have lost over two weeks, real talks have not begun yet
Eurogroup chief Jeroen Dijsselbloem warned that Greece must stop wasting time and develop its reform package, as he arrives at the eurogroup meeting in Brussels. Our Europe editor Ian Traynor is there, and reports: #Eurogroup @J_Dijsselbloem 'little has been done on (greek) reform, further talks, implementation' #Eurogroup @J_Dijsselbloem main msg today, stop wasting time, get real. clearly last week's tourists and taxdodgers was daft #Eurogroup @J_Dijsselbloem choosing to signal there will be (troika) technical talks in athens Dijsselbloem mentions 'Troika institutions' and Athens in the same sentence. Ouch.
Reporters in Brussels are poised for the arrival of Germany's finance minister, who's likely to take his usual tough stance with Greece: Waiting for Schäuble. #Eurogroup pic.twitter.com/gRSlJPNYq0
And here's a videoclip of Pierre Moscovici telling reporters that Greece must give more details of its reform plans today. #Eurogroup meeting - EU Commissioner @pierremoscovici on #Greek reforms http://t.co/rY1hdCTs6i pic.twitter.com/AhbdySdx2B
Dutch Deputy FinMin: "Greeks should move as fast as they can, they should speed up". Declines to comment on potential referendum. #Greece
Eric Wiebes, the Dutch state secretary for finance, has just declared that Greece's list of reforms isn't sufficient. Arriving at the eurogroup meeting in Brussels, Wiebes told reporters that a full package must be agreed and signed off by creditors by the end of enc #Eurogroup greeks need to get a move on. need a proper reform package by end of april rubberstamped by troika - wiebes, dutch official
European commissioner Pierre Moscovici has declared that Greece must provide more specifics about its reform plans at today's meeting, as the trickle of quotes from Brussels begins. Moscovici: First reform list was accepted by institutions, we need to go more into detail. But that won't necessarily be today. #Greece Moscovici: It is 'essential' that the Greek gov't works with the 'Institutions' on the technical level. #Greece #Eurogroup
A quick recap. Eurozone finance ministers are due in Brussels shortly for a eurogroup meeting, with Greece's bailout programme top of the agenda. German Bunds rally as #ECB said to begin buying German Government bonds under QE plan. 10yr yields drop to 0.36%. pic.twitter.com/lxUlqSe7J1
Eurogroup chief Jeroen Dijsselbloem warned yesterday that Greece's latest reform plan is "far from complete". So what is it? The programme which Greece sent to Brussels last week [online here] consists of seven key points. These are classic examples of projected "waste and inefficiency" savings, which tend to be taken only at a substantial discount in any program negotiations — it's not that it isn't possible to sweat the paperclips budget, or to improve competitive tendering, it's just that delivery on this sort of program is never taken for granted. I don't think the Eurogroup will treat these measures as fiscally neutral, which means that more funding from spending cuts or tax rises will need to come from somewhere else. OK, my first-cut analysis of the Greek proposals is up on medium. https://t.co/QLZETOaBqt . I feel bad about being so negative, but WCYD?
The European Commission has just announced that Greece's prime minister, Alexis Tsipras, will meet with Jean-Claude Juncker on Friday. President @JunckerEU will meet PM @atsipras in Brussels on Friday 13.3 at 9.00am.
German chancellor Angela Merkel has warned that Europe faces a "very difficult path" over Greece. "I have said time and time again, and I can say it again here, our political goal is to keep Greece in the euro zone. We have been working on this for many years. "But it's also true that there are two sides to this coin -- on the one hand solidarity from European partners, and on the other the readiness to implement reforms and other commitments at home.
The FT's Peter Spiegel has published a letter sent by eurogroup chief Jeroen Dijsselbloem to the Greek government on Friday. In it, Dijsselbloem thanks Yanis Varoufakis for the seven reforms he outlined in his own letter last week, before cautioning that more work is needed. Dear Yanis, I thank you for your letter, dated 5 March 2015, and for the attached document outlining in some detail seven of the reforms planned by the Greek government. .@J_Dijsselbloem letter to @yanisvaroufakis: "troika" (sorry, "institutions") returning to Athens? Leaked letter here http://t.co/8lwBzZxajE
Greek government bonds are weakening this morning, showing that traders see the debt as riskier. The yield (or interest rate) on Greek 10-year sovereign debt has risen to 9.96%, from 9.5% on Friday night. * Greek 3-year government bond yields rise 112 bps to 15.436 percent - RTRS
The European Central Bank has confirmed that its new QE programme kicked off this morning: ECB and Eurosystem national central banks have, as previously announced, started purchases under the Public Sector Purchase Programme. Leisurely start RT @FerroTV BUNDESBANK SAYS IT WAS ACTIVE IN MARKET FROM 9:25 AM CET
Heads up. Eurozone ministers will arrive for today's meeting in Brussels around 2.45pm local time, or 1.45pm GMT. Doorstep #Eurogroup at around 14.45.
Many of the City's biggest names are worried that markets underestimate the risk that Greece might leave the eurozone. That's according to a new poll from the Financial Times. Here's a flavour: "Neither the eurozone, nor perhaps even the EU itself could survive a stampede out the door," said Xavier Rolet, chief executive of the London Stock Exchange. Tidjane Thiam, chief executive of insurer Prudential, said: "Financial markets seem remarkably relaxed about a potential Grexit; they believe that either it will not happen, or it will not matter. That belief deserves to be challenged."
One of the German MPs who voted against Greece's bailout extension has argued that the country would be better off quitting the eurozone. "By leaving the euro zone, as finance minister Schäuble has suggested, the country could make itself competitive again from a currency perspective with a new drachma. "This would provide Greece with a great opportunity to renew itself economically and administratively, making itself fit again to return to the eurozone from a position of strength."
A new opinion poll shows that over two-thirds of Greeks want their leaders to reach a "fair compromise" with its creditors. The number who favour a tough fight that risks Greece leaving the eurozone has fallen a little: #Greece poll [Marc]: 69,6% for 'fair compromise' w Eurozone (+1.9% vs prev), 27,4% for 'confrontation even if it wd lead to Grexit' (-2.2%) Among Syriza voters, 57,8% for 'fair compromise', 38,9% for 'confrontation'. #Greece
Meanwhile, alternate economy minister Dimitris Mardas has insisted this morning that Greece's state revenues were not in such a parlous position as many imagined. Over to Helena Smith again: Insisting that a solution would be found "despite the low expectations," Mardas took commentators aback this morning saying: "the picture that we have of revenues is better than expected." Greece's tax collecting apparatus has come to a grinding halt since the year began with revenues dropping by a precipitous 22 %, according to officials. "Scenarios", he said referring to the idea of a referendum floated by Varoufakis over the weekend, "won't happen."
Over in Athens, opposition to government policies - and members - is escalating ahead of today's eurogroup meeting of euro area finance ministers. "With what Mr Varoufakis is doing, he is dangerous for the country and the best thing that the prime minister can do is replace him as soon as possible." "With endless interviews you do not conduct proud negotiation." "Greece is desperately isolated, it is alone. [Varoufakis'] proposals range between being unclear to ridiculous, provoking laughter when we talk about wiring up tourists to clamp down on tax evasion. And all the while the country is being driven to recession and revenues are tragically behind." "He doesn't know what he is talking about."
Greece's bank shares are falling sharply in early trading in Athens, as the threat of a referendum hits confidence. The main Athens index has fallen by 3.5%, with bank shares among the big fallers. Piraeus Bank has shed 6.5%, and National Bank of Greece is down 6.3%. #Greece gives the Eurozone party pooper: FTSE Greek banking index starts 5.5% lower to the week. pic.twitter.com/g1jZkPJ154
Bloomberg is reporting that the ECB has made its first purchase of eurozone government debt, under its new quantitative easing programme. And they've started by snaffling up some German bunds, according to traders. Jawohl! *ECB SAID TO BEGIN BUYING GERMAN GOVERNMENT BONDS IN QE PLAN #Eurozone bonds rally on QE day: Germany's 10yr bund yields drop to 0.38, 10yr BTP's to 1.3%, Spain's 10yr to 1.28%. pic.twitter.com/4BT8YyGh8V
Europe's stock markets have all fallen in early trading: Unless data deteriorate, the rate rises start in June.
One of Britain's best-performing fund managers has weighed in on the eurozone crisis, arguing that the single currency isn't viable. Neil Woodford told the BBC that the eurozone was "fundamentally flawed", and "probably" not viable in the long term. "In a very simple sense pretending that Greece was Germany is a fundamental error. Having the same interest rate, the same monetary policy for two economies that are so different seemed to me to be a fundamentally flawed assumption right at the start of the project.
The agenda for this afternoon's eurogroup meeting, which starts at 2.30pm GMT, is online here. The Eurogroup will discuss the next steps following the decision to extend the financial assistance to Greece by up to four months beyond its original expiry date of 28 February 2015. The political agreement on the extension was taken by the Eurogroup on 24 February and later approved by a number of national parliaments in the euro area and by the European Financial Stability Facility (EFSF), which provides the assistance. The formal decision on the extension was taken on 27 February. The Eurogroup will be given an update on the ongoing 6th review of the macroeconomic adjustment programme in Cyprus. One of the requirements of the programme is the implementation of the an effective foreclosure framework, which would allow banks to manage their bad loans and improve lending to the real economy.
Speaking of Germany.... its economy may not be quite as vibrant as we thought. New data shows that German exports fell by 2.1% month-on-month in January. That's the biggest fall since last August and worse than economist expected, suggesting the weak euro isn't helping as much as we thought. Weaker-than-expected German exports, down 2.1% MoM. Well, at least the infamous German trade surplus narrowed, to EUR16bn.
The prospect of a Greek referendum might make the European Central Bank wary of offering more emergency support to its banking sector. As Dan Davies of Frontline Analysts put it: if Syriza are floating the idea of exit referendums, they kind of lose the right to complain about anyone else threatening bank liquidity
Yanis Varoufakis's suggestion that Greece could hold a referendum over its reform plans has been slapped down by Germany's deputy finance minister. Steffen Kampeter warned this morning that any referendum would simply slow down Greece's reform drive. He also predicted little progress at today eurogroup meeting. Germany's deputy finance minister said on Monday that he did not expect concrete dedcisions on Greece to be taken at a meeting of euro zone finance ministers later in the day because they are still waiting for more financial details on Greek reform plans. "I don't expect any substantial decisions by the Eurogroup this evening," Steffen Kampeter told German radio in an interview. #Germany DepFinMin does not expect concrete Eurogroup decision on #Greece; Referendum wd only lead to a delay in reform implementation ~RTRS
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. "We are not attached to our posts. If needed, if we encounter implacability, we will resort to the Greek people either through elections or a referendum." A fine morning to start #QE? pic.twitter.com/3RrT1IC37O Continue reading...      This posting includes an audio/video/photo media file: Download Now |
| Republicans threaten that Iran nuclear deal may not survive Obama presidency Posted: 09 Mar 2015 02:01 PM PDT
Forty-seven Republican senators warned on Monday that any agreement the Obama administration strikes with Iran to limit Tehran's nuclear programme may be short-lived unless Congress approves the deal. The White House accused the Republicans of advocating a "rush to war". In an open letter to Iranian leaders, freshman Senator Tom Cotton and 46 other Republicans said that without congressional approval any deal between Iran and the US would be merely an agreement between President Barack Obama and Iran's supreme leader, Ayatollah Ali Khamenei. Related: Iran nuclear deal 'very close' as Netanyahu brings negotiators together Continue reading... |
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