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Historic Russia/Greece deal signed last week. Sign of things to come?
Russia, Greece sign €2bn deal on Turkish Stream gas pipeline
June 19, 2015
Russia and Greece have signed a deal to create a joint enterprise for construction of the Turkish Stream pipeline across Greek territory, Russian Energy Minister Aleksandr Novak said. The pipeline will have a capacity of 47 billion cubic meters a year.
The construction costs are about €2 billion and the parties will sign a roadmap Friday, Novak told RIA at the St. Petersburg Economic Forum.
The Greek extension of the Turkish Stream project is called the South European pipeline in the memorandum signed on Friday, Novak said, adding that the construction will start in 2016 and be completed by 2019.
The two countries will have equal shares in the company, Novak said.Construction of the pipeline in Greece will be financed by Russia, and Athens will return the money afterward.
The Russian shareholder in the joint enterprise will be state-owned Vnesheconombank (VEB), Novak said.
Greek Energy Minister Panagiotis Lafazanis said the Friday meeting was"historical".
"The pipeline will connect not only Greece and Russia, but also the peoples of Europe,” Lafazanis was quoted as saying by Sputnik news agency. “Our message is a message of stability and friendship... The pipeline we are beginning today is not against anyone in Europe or anyone else, it is a pipeline for peace, stability in the whole region."
The 1,100 kilometer Turkish Stream pipeline will have four lines and an annual capacity of up to 63 billion cubic meters (bcm) of gas. About 16 bcm will be supplied to Turkey while the remaining 47 bcm will go to a hub on the Greek - Turkish border to be transported onwards to Europe.
In December 2014, Russia cancelled the South Stream gas pipeline project because the EU was constantly blocking the deal. South Stream would have delivered 63 bcm of gas to Europe, bypassing the current routes through unreliable Ukraine.
ATHENS (AP) -- The latest news about the Greek bailout talks (all times local):
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0:10 a.m.
Greece's main opposition New Democracy party has walked out of parliament during a tumultuous debate on the prime minister's call for a referendum on creditors' reform proposals, over a dispute with the parliament speaker.
The country's 300 lawmakers are to vote on whether to accept Prime Minister Alexis Tsipras' call for a referendum on June 5. The proposal needs 151 votes and it is expected to pass as the coalition government of Tsipras' radical left Syriza party and a small nationalist party holds 162 seats.
New Democracy head Antonis Samaras walked out during the heated debate after a bitter dispute with parliament speaker Zoi Konstantopoulou, whom he accused of violating parliamentary procedures. Konstantopoulou is a Syriza lawmaker, and has frequently been criticized for not remaining impartial in debates as her role requires.
Tsipras called for the ND lawmakers to return so the debate could be concluded and the vote held. It was unclear, however, whether they would return.
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9:45 p.m.
Ireland's Finance Minister Michael Noonan says he is confident that the euro currency will stand strong despite the setback with Greece.
He says the eurozone nations' "assessment was that we are in a much better situation than we were following the collapse of Lehman Brothers, when Europe was ill-prepared."
He adds that "there's no level of anxiety" among the euro partners.
But Noonan was concerned about developments in Greece, where people are queuing at banks and fuel stations.
"It's not I think a question of waiting to see what might happen on Monday in terms of crisis — the crisis has commenced," he told reporters as he left a eurozone meeting.
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9:40 p.m.
In the end, Luxembourg Finance Minister Pierre Gramegna said Greece gave the other eurozone ministers no choice but to vote against extending the bailout program for Greece, a move which sent Athens toward an uncertain financial future.
Gramegna said that "the Greek decision to so suddenly announce a referendum without warning its partners has not only surprised everyone but also shocked confidence." He spoke after two eurozone finance ministers' meetings, one with Greece and one without it.
He said displeasure increased when late Friday, "the Greek delegation left the table in the middle of negotiations when the prime minister decided on a referendum."
"Thirdly, and perhaps the most dramatic element, was the Greek announcement to advise its people to vote against the European package that was not even finalized."
Greece's bailout program ends Tuesday. It had sought an extension to be able to have a referendum on July 5 on whether to accept the creditors' bailout proposals, and recommended Greeks to vote against them.
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9:15 p.m.
The eurozone's top official says the door remains open for more talks with Greece, even though the country's government insisted that the international creditors had issued an ultimatum that forced it away from the negotiating table.
Jeroen Dijsselbloem, the president of the eurogroup meetings of finance ministers, said "it was not the institutions that walked away from the last talks last night. It was not us that said the talks have come to an end in a negative way, it was the Greek government."
He spoke after 18 of the 19 finance ministers from the eurozone met, excluding Greece.
Dijsselbloem said there are options left in the coming days, before Greece's bailout program expires after June 30 Greece holds a referendum on the bailout proposal on July 5.
"The process has not ended. It will never end, probably, and we will continue to work with Greece," Dijsselbloem said.
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7:50 p.m.
Finance Minister Michel Sapin says France is ready to immediately become a go-between between Greece and its international creditors to avoid a further collapse of the bailout negotiations and find a belated agreement.
The finance ministers of the eurozone on Saturday refused to grant Greece a one-month extension to its bailout program, bringing Greece closer to being unable to make debt payments due as soon as Tuesday. Greece rejected a proposal from international creditors on reforms needed to keep bailout funds coming.
"France is available today, tomorrow, the day after, as from the start, to be a go-between to find an agreement that is solid," Sapin said. "I say it with conviction: France is today ready to make sure that at any time the dialogue can resume."
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6:10 p.m.
Greece's finance minister says there is still a chance his country could reach a bailout deal with creditors, despite the latest breakdown in talks.
Eurozone finance ministers on Saturday rejected Greece's request for an extension to its bailout program so that it could put the creditors' bailout proposals to a popular vote July 5. Greece's bailout program expires on Tuesday and it is unclear whether it can support its banks after that date without a deal with creditors.
Yanis Varoufakis says the eurozone finance ministers would continue their meeting without Greece on Saturday night to evaluate the consequences of the recent decisions.
He told reporters, however, that there is still the "possibility of negotiating through the day and through the night and through the day ahead of us in the coming days to improve the agreement."
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5:40 p.m.
The eurozone's top official, Jeroen Dijsselbloem, says the bailout program for Greece will expire on Tuesday. The country had requested an extension so that it can hold a referendum July 5 on the reform program demanded by creditors.
Without a bailout program, it is uncertain whether Greece will be able to continue to receive emergency support for its banks.
Dijsselbloem said Saturday at the end of a eurozone finance ministers' meeting that "however regretful, the program will expire on Tuesday night. That is the latest stage we could have reached an agreement, and it will expire on Tuesday night."
After Greek Finance Minister Yanis Varoufakis left, the 18 remaining ministers are to continue talks in an informal session to see what action to take to assure the continued stability of their shared currency.
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5:25 p.m.
The finance ministers of the eurozone have rejected a Greek request to extend the deadline of its bailout program until after a planned July 5 referendum.
Two eurozone officials, who spoke only on condition of anonymity because the decision was not yet officially announced, said the finance ministers would continue meeting in an informal session without Greek Finance Minister Yanis Varoufakis.
One official said there could not be an extension of the program now because there was no basis for cooperation. Many among the 19 eurozone ministers said that they were surprised and disappointed by the announcement of Prime Minister Alexis Tsipras to seek a referendum.
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2:50 p.m.
German Finance Minister Wolfgang Schaeuble says that by calling for a referendum on the creditors' proposals to keep Greece solvent — and by advising Greeks to reject them — the country appears to have ended the negotiations on its bailout program.
Schaeuble said as he arrived at a meeting with other eurozone finance ministers that "the negotiations apparently have been declared at an end" by Prime Minister Alexis Tsipras. Schaeuble said that "if I understood correctly ... we now have no basis for further negotiations."
He was looking forward to hear what his Greek counterpart Yanis Varoufakis would have to say about the latest developments. "We'll see what he says. With Greece, apparently you must never rule out surprises," Schaeuble said. "But to be honest, none of the colleagues I spoke to beforehand sees any possibility for what we can do now."
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2:35 p.m.
Finland's finance minister, Alexander Stubb, warns that Greece's referendum announcement has forced eurozone nations to assess other options if the bailout talks fail.
The referendum decision would require Greece's creditors, which include eurozone states, to extend the country's bailout program by a few days.
He says that "there is pretty much a consensus inside the eurogroup that we cannot extend the program as it stands," he said. "Consequently I would argue that Plan B becomes Plan A," he said, without elaborating.
(This item has been corrected to show that Stubb did not specify that the eurozone should discuss Greece's exit from the euro.)
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2:20 p.m.
The EU's economics and monetary affairs chief, Pierre Moscovici, says the differences between Greece and its creditors can be bridged, and he emphasizes the importance of Greece remaining in the 19-nation euro bloc.
He said before a eurozone finance ministers' meeting Saturday that "proposals are on the table. These proposals are favorable to Greece, favorable to the Greek people."
The Greek government has called for a referendum to be held in a week on the creditors' proposals for reforms in exchange for loans. It has urged the people to vote against the deal, leaving open what would happen to the country in such a case.
Moscovici added: "I see that there are differences, but the differences are quite limited, and they are identified."
"The place of Greece is in the eurozone and we are working on that."
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2:15 p.m.
The head of the International Monetary Fund says that Greece's rescue creditors "will continue to work" for a deal to save the country — even though Athens called for a referendum and advised Greeks to reject the proposals of international creditors.
Christine Lagarde says that the creditors "always showed flexibility to adjust to the new political and economic situation in Greece," thus rejecting claims from Greek Prime Minister Alexis Tsipras that his country was facing an ultimatum.
But Lagarde insists Greece needs to do more. "It requires a balanced approach, on the one hand there has to be structural reforms, deep ones, to change the Greek economy, to make it more productive, more efficient so that it generates growth and jobs."
Once that's done, "it requires financial support" from the international partners.
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2:10 p.m.
The eurozone's top official, Jeroen Dijsselbloem, says that Greece has closed the door on further talks to end the standoff with its creditors because it called for a referendum on the proposals of the creditors, with an advice to reject it.
He said before entering a eurozone finance ministers' meeting Saturday: "I am very disappointed. After our last meeting, the door on our side was still open, but that door has closed on the Greek side."
Greece has a debt repayment on Tuesday it cannot afford and its bailout program expires the same day. To be able to hold a referendum on July 5, as it has called for the Greek government would need an extension to the bailout program from its creditors. It would also need continued support for its banks from the European Central Bank.
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1:25 p.m.
The Netherlands cautions against granting any more time to Greece, which faces a debt deadline on Tuesday, when it has a 1.6 billion euro ($1.8 billion) repayment to make and its bailout program expires.
Dutch state secretary Eric Wiebes said before the start of a eurozone finance ministers' meeting: "I see no reason for delay. The positions are very clear. We have known the deadline for four months."
Greek Prime Minister Alexis Tsipras has called for a referendum on the creditor's bailout proposal on July 5, well after the country's debt deadline. He even advised Greeks to not accept the proposal, leaving it unclear what the country's prospects would be in such a case.
Wiebes stressed that those involved in the talks must "consider a deadline as a deadline."
___
1:15 p.m.
The head of a major German economic think-tank says the only way Greece could stay in the eurozone if Greeks reject reform conditions in a popular vote next week would be for creditors to agree to debt relief and Greek banks to be rescued without outside help — largely by customers forfeiting part of their deposits.
Clemens Fuest of the Center for European Economic Research says that "that is not practically workable."
As Greeks withdraw money from cash machines, the banks are under increasing financial strain. So far, the European Central Bank is supporting the Greek banks by allowing them to draw on emergency credit.
Fuest says that, unless Greece puts limits on money withdrawals and transfers, the ECB will face the choice on Monday of accepting the collapse of Greek banks or further expanding the emergency credit.
Fuest says that "only with capital controls from Monday can Greece be given time until July 5 to hold a referendum on the rescue program."
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11:50 a.m.
Germany's vice chancellor says that a Greek referendum on the bailout talks could in principle make sense, but notes that it should be clear to voters what they will be deciding on.
Sigmar Gabriel told Deutschlandfunk radio: "We would be well-advised not simply to push this proposal from Mr. Tsipras aside and say that it's a trick. If the questions are clear — if it's really clear that they are voting on a program that has been negotiated, it could make sense."
The agenda of the Greek Parliament showed the referendum would be on a proposal of reforms that creditors offered to Greece on Thursday. Should Greeks reject the proposal, it is unclear what Greece's options would then be.
Gabriel added: "There must be a clear program. And what he (Tsipras) would like — for Europe to send 20 or 30 billion in aid programs to Greece, but without any conditions — Europe cannot accept."
He said that "Europe is offering a great deal" and that "many of the tough measures that were being debated at the beginning are off the table."
He pointed to EU efforts to invest in growth, softening the previous focus on austerity.
___
11:30 a.m.
The Greek Parliament will open a debate at noon local time on whether or not to approve the government's planned referendum on the creditors' latest proposal for a bailout.
The Parliament has posted Saturday's agenda on its website, saying it will vote on the referendum at about 7 p.m.
It says the July 5 referendum announced by Prime Minister Alexis Tsipras late Friday will be on whether voters approve or reject the bailout proposal submitted by Greece's creditors Thursday.
The proposal, according to Parliament's agenda, is made up of two documents: one called "Reforms for the completion of the Current Program and Beyond" and another called "Preliminary debt sustainability analysis."
Aside for the issue of making these documents accessible to all voters, the Parliament must also deal with a likely contingency of creditors withdrawing those proposals at the Eurogroup meeting later Saturday.
George, would you agree that Greeks are mostly all talk and no action. Greeks will vote to stay in the Euro. As I predicted, this will go into July. And now I'm predicting Greeks will vote to stay in the Euro
Par value just decreased from .001 to .0001. Haha. You guys are all screwed. Date 6.24.15. Typical of this scumbag ceo. Last spike to .0022 on 6.10.15 was followed directly by the scumbag raising AS to 1 billion from 400 million. Many more bag holders now. CEO won't allow any spikes without fattening his pockets. TIMBER!!!!!!!!!!!! Back to .0001, followed by no bid, followed by 8th name change and reverse split. Enjoy.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=C9biUSI5xK90pQqv6BTIbA%253d%253d&CorpName=COIN+CITADEL
Home > Boards > US OTC > Oil/Gas/Natural Energy Production > Coin Citadel (CCTL)
www.coincitadel.com
7 name changes for cctl.
Ihub doesn't know what cctl does because the ceo doesn't know.
Stay away like the plague or short cctl. Share selling scam w/ no end in sight. TA gagged. AS increases twice monthly.
Bkrt has moved "way back" many many times only to come back with more and more shares each and every day. Monday will be no different
Doubt it. CEO will dilute this on any spike.
Wait til Monday. Bye bye lotto tix
Most retail does though. Short cctl
Maybe www.coincitadel.com will be up and running by Monday! Don't hold your breath
Don't forget to enter the CCTL contest
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=114960137
Reversal due? How many bottom calls have there been here? Each one has been wrong. Best trade is to short cctl.
Chart says red 15 of 16 weeks. Website says company blows. 7 name changes says CEO blows. Ta gagged says share selling scam. AS increased twice in less than a month says dilution not over
What exactly is CCTL? A scam selling ticker. Don't be scammed
More dilution to come. Don't be a sucker
www.coincitadel.com best website on earth
I'll start the contest off with Canabis Creator inc. I figure bill will change the name to the next big thing like he always does.
Just a matter of time of another 22 million bid whack
CCLT NEXT COMPANY NAME CHANGE CONTEST
Closest guess to CCLT next name change receives 1 yr ihub membership compliments of yours truly. Here's the history. Submit your guesses before next reverse split to qualify
Currently=Coin Citadel
Formerly=Global New Energy Industries Inc. until 11-2014
Formerly=Carbon Jungle, Inc. until 1-2013
Formerly=One Touch Total Communications, Inc. until 3-06
Formerly=Nettel, Inc. until 10-99
Formerly=Eubix Technologies, Inc. until 6-99
Formerly=Fertility Advancements, Inc to 12-90
DD:
Currently 1 billion AS (raised twice in under a month)
52 week low .0001 today as predicted
No working website
TA gagged
Last PR January
Garbage CEO
Red 15 of last 16 weeks
Why buy a ticker w/ 7 name changes, 2 increases in AS in less than a month, no website, endless dilution, & worst CEO in history. 1s coming, then no bid, then reverse split, then company name change. Cctl down 15 of last 16 weeks, undefined toxic financing, and zero upside.
With Icahn calling for a 20-30% drop in the markets, one has to think a catalyst would cause this type of drop. It might be Greece but I hope not. Icahn looks to be spot on with his Netflix call w/ 2 downgrades coming after Icahn spoke
The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative to aid Europe, in which the United States gave $13 billion (approximately $120 billion in current dollar value) in economic support to help rebuild European economies after the end of World War II. The plan was in operation for four years beginning in April 1948. The goals of the United States were to rebuild war-devastated regions, remove trade barriers, modernize industry, make Europe prosperous again, and prevent the spread of communism.[1] The Marshall Plan required a lessening of interstate barriers, a dropping of many petty regulations constraining business, and encouraged an increase in productivity, labour union membership, as well as the adoption of modern business procedures.[2]
The Marshall Plan aid was divided amongst the participant states roughly on a per capita basis. A larger amount was given to the major industrial powers, as the prevailing opinion was that their resuscitation was essential for general European revival. Somewhat more aid per capita was also directed towards the Allied nations, with less for those that had been part of the Axis or remained neutral. The largest recipient of Marshall Plan money was the United Kingdom (receiving about 26% of the total), followed by France (18%) and West Germany (11%). Some 18 European countries received Plan benefits.[3] Although offered participation, the Soviet Union refused Plan benefits, and also blocked benefits to Eastern Bloc countries, such as East Germany and Poland. The United States provided similar aid programs in Asia, but they were not called "Marshall Plan".
The initiative is named after Secretary of State George Marshall. The plan had bipartisan support in Washington, where the Republicans controlled Congress and the Democrats controlled the White House with Harry S. Truman as president. The Plan was largely the creation of State Department officials, especially William L. Clayton and George F. Kennan, with help from Brookings Institution, as requested by Senator Arthur H. Vandenberg, chairman of the Senate Foreign Relations Committee.[4] Marshall spoke of an urgent need to help the European recovery in his address at Harvard University in June 1947.[1][5]
The phrase "equivalent of the Marshall Plan" is often used to describe a proposed large-scale economic rescue program.[6]
I guess the presentation isn't going well
Looks like JSJ and goodman supporters showing up. Last post on this board until pump day when I'll provide my fabulous dd on meaningless online wagering articles. Enjoy posting guys.
It's the largest ask at 3 elra has been post rs. Ask thinning? Lmao. CDEL shorting like crazy is more like it. You should buy up the 3s
News out. How long has beak been on the ask here?
Many 2s probably gonna go today.
You're probably right about 2s and 1s but there will be a spike before July 20. JSJ will make sure of that
Greece wants a marshall plan from the Germans like America gave to the Germans after ww2 and Greece will get it.
Deal won't be final until July. Greece will get a mini lifeline on the 1.6 bill they owe on June 30. IMO
IMF's counter proposal
http://www.skai.gr/files/1/aalex7/5pagedoc2462015.pdf
Greece's 11 page proposal to European Commission
http://s.kathimerini.gr/resources/article-files/protasi--2.pdf
Obama won't allow it.
TA won't release #s. Another sign to stay away like the plague and short cctl.
I agree. 12-18 months from now, I can definitely see $10-12 with a possible special divy assuming deal happens of course.
:):):):) lol. Great cartoons. Thx for the chuckles!!!!
Thx. Just my 2 cents and why I'm heavy on NBG. Amazing opportunity for shareholders if/when deal is struck. Huge upside potential. Can't find a much better risk/reward opportunity where you can "safely" invest substantial amounts of money and hit big in a short amount of time.
Btw-nice profile pic of the Anastasi Church. Beautiful church.
You're right. That's why draghi, silva, and rajoy have tsipiras's back. They all want better terms. The IMF's austerity measures stunt the growth of each country's individual economies. W/o friendlier terms, doomsday for the euro and world markets are right around the corner. Obama won't allow that under his watch.
More great calls on cctl
Both sides will bend. A good deal is when both sides are a little unhappy. In the end, IMF can't let Greece go or domino's will start falling (Portugal, Italy, Spain, etc.). Tsiparas knows this. His game theory expertise will get Greece the best deal possible while the IMF will still look strong. Deal won't happen until after the June 30 deadline IMO..