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Now up 10% In premarket
NBG UP $1.05 IN PREMARKET AND GOING UP FAST.... GREECE RECONSIDERING LAST OFFER
GREECE RECONSIDERING OFFER 12:13 PM TUESDAY GREEK TIME.
Government reconsidering Juncker's last-minute proposal, sources say
Prime Minister Alexis Tsipras is reconsidering the last-ditch offer made by European Commission President Jean-Claude Juncker, sources have told Kathimerini.
Kathimerini understands that the pressure caused by the closure of banks as well as the expiration of the Greek bailout program on Tuesday has caused some members of the government to urge Tsipras to accept Juncker’s offer.
Sources said the prime minister’s office has already informed the Commission that it is examining the proposal.
According to what is known of the proposal Tsipras would have to send a written acceptance of the version of proposals from the lenders published on Sunday, with a pledge to campaign for them to be accepted in the planned July 5 referendum.
The offer published on Sunday incorporated a proposal from Greece that would set value-added tax rates on hotels at 13 percent, rather than at 23 percent as originally planned in the lenders' proposals. It was not immediately clear whether there would be any additional changes.
If the offer were accepted, the euro zone finance ministers could adopt a statement saying that a 2012 pledge to consider stretching out loan maturities, lowering interest rates and extending an interest payment moratorium on euro zone loans to Greece would be implemented in October.
The offer would be conditional on a letter to Juncker, Eurogroup chairman Jeroen Dijsselbloem, German Chancellor Angela Merkel and French President Francois Hollande arriving in time to arrange an emergency meeting of the Eurogroup on Tuesday.
ekathimerini.com , Tuesday June 30, 2015 (12:13)
No one's answering any questions because no one knows what the financial restructuring is all about.
It's supposed to happen in July and retail investors are only going to get 3.5 % of the new shares coming out.
That measly 3 1/2% has to be shared with all the retail investors depending on how many shares you own now.
I think it's something similar to a reverse split... some people say that this is going to go down to .05 after the restructuring. So if I were you guys I'd get my rear end out of here.... I don't think they mentioned when the financial instruction was to take place in July only that it is going to be done in July.
Go buy NBG..... it took a huge hit today and if Greece gets the bailout money from the euro zone NBG is going to go to two or three dollars within two weeks
I've heard said from scholars a small weak country will start World War III...
Russia in Greece ,I hope not.
""""" victory in the Greek general election in January 2015 is a truly historic and profound event – the first government of the radical left in Europe since World War Two. """"""
Already priced in
Lots of dummies gave their shares away.
You can now by them back at 25% more
Only the dumb will sell today.... to get back in will cost you over 50% more if you want to get back in after the deal is signed....
Isn't there a new rule that stops a stock from trading if it goes down a certain percentage. if this is true the New York Stock Exchange will not trade NBG when market opens
If NBG opens in the US I congratulate those that waited. But I feel sorry for any longs who are going to sell to you. So,again I say to longs hold on to your shares because this will be $2 in the next few days
I feel sorry for the longs that are going to trade it today and lose 30% of their investment when NBG is going to $2 this week as soon as Greece excepts the deal. I hope the US does not trade NBG today when US markets open because that would be a slap in the face for Greece. It is being traded in premarket in the US right now
I'm still not sure if they're going to let it trade in the US when markets open.... longs better hold onto their shares because there's a new proposal today... NASDAQ premarket has it at .89....
That doesn't matter because Athens stock exchange is closed and when it reopens NBG will be $2 after proposals excepted... so hold onto your shears because you don't want to lose 30% of your investment and then have NBG go to $2 when the Athens Exchange reopens
Greece gets new proposals today.NBG $2 when Athens stock exchange reopens
Controls till Sundays referendum good for longs...
Week of July 5th NBG $2 +
Greek markets will be closed for the week so there will not be panic selling as there is no reason for it.
They're closing the markets because they know that aI deal will go through... lots of longs who don't understand what is going on just got their rear ends saved..,
I'm hoping the US markets and the rest of the world won't be able to trade Greek stocks all week long
New proposal will keep PPS over $1.20... If proposal excepted before tomorrow morning NBG $1.60+
100% the deal will go through even if it takes the referendum on July 5.The euro zone wants it.The US wants it.The people of Greece want it. The opposition leaders in Greece want it...
Make sure you have your shares because the deal will definitely go through.
Good News:Greeks want to stay in eurozone, two polls show
Two opinion polls indicate most Greeks want to keep using the shared euro currency and would prefer a deal with Greece's European partners rather than a rupture.
The polls published Sunday were both conducted before Prime Minister Alexis Tsipras declared early Saturday that he was calling a referendum on financial proposals made by Greece's creditors in return for continuing to fund the country with bailout loans. Still, they provide an indication of public sentiment.
In the poll by Alco for the Proto Thema Sunday paper, 57 percent said they believed Greece should make a deal with its EU partners while 29 percent wanted a rupture. A separate poll by Kapa Research for the To Vima newspaper found 47.2 percent of respondents would vote in favor of a new, painful agreement with Greece's creditors, compared to 33 percent who would vote no and 18.4 percent undecided.
Both nationwide polls were conducted from June 24-26. The Alco poll had a margin of error of 3.1 percent while Kapa Research's was 3.09 percent. [AP]
ekathimerini.com , Sunday June 28, 2015 (13:00)
The referendum will not happen. Euro zone will give in to Greece now.
Some poster on another site said Greece and the euro zone are only $500 million apart excepting the deal
Greek banks are safe...Greece's government will continue working closely with the European Central Bank and the country's central bank to ensure banks are stable, the deputy prime minister said in a tweet on Saturday after a meeting with ECB chief Mario Draghi.
Greeks lined up at automated teller machines to withdraw cash on Saturday after Prime Minister Alexis Tsipras called a referendum on a bailout agreement, throwing the country's future in the euro in doubt.
Deputy Prime Minister Yanis Dragasakis wrote on Twitter: «Following today's meeting with Mario Draghi in Brussels, Yannis Dragasakis and (Greek negotiator) Euclid Tsakalotos said that the government will continue working closely with the ECB and
Bank of Greece for the stability of the country's banking system."
[Reuters]
ekathimerini.com , Saturday June 27, 2015 (20:53)
Euro zone deal will be excepted by the people of Greece. They will vote on July 5th and the deal will go through. The deal may also be agreed upon before that date. It is already known the majority of people in Greece want the deal excepted so that Greece stay's in the euro zone.
The five month extension that the euro zone gave to Greece for bailouts is a plus plus
Greece will give in. They will then have all kinds of time to get the €300+ Billion war money owed to them by Germany. Greece will then be debt-free and NBG will go over $100 per share
Now $1.31 after hours
Should see $1.20 or better early morning
BRUSSELS/ATHENS (Reuters) - The European Union welcomed new proposals from Greek Prime Minister Alexis Tsipras as a "good basis for progress" at talks on Monday where creditors want 11th-hour concessions to haul Athens back from the brink of bankruptcy.
EU chief executive Jean-Claude Juncker's chief-of-staff spoke of a "forceps delivery" as officials worked late into the night to produce a deal ahead of a summit of euro zone leaders in Brussels that they hope can keep Greece in the currency bloc.
Giving no detail of a proposal he said was also received by the European Central Bank and International Monetary Fund, German EU official Martin Selmayr tweeted: "Good basis for progress at ... Euro Summit. In German: 'eine Zangengeburt'."
After four months of wrangling and with anxious depositors pulling billions of euros out of Greek banks, Tsipras's leftist government showed a new willingness at the weekend to make concessions that would unlock frozen aid to avert default.
It was not immediately clear how far the new proposal yielded to creditors' demands for additional spending cuts and tax hikes, but the offer was a ray of hope that a last-minute deal may yet be wrangled before Athens runs out of cash.
Tsipras spent much of Sunday holed up in a marathon cabinet meeting and discussed the new offer with the leaders of Germany, France and the European Commission by phone.
"The prime minister presented the three leaders Greece's proposal for a mutually beneficial agreement that will give a definitive solution and not a postponement of addressing the problem," a statement from Tsipras's office said.
He will meet European Commission President Juncker, ECB President Mario Draghi, IMF head Christine Lagarde and euro zone finance ministers chairman Jeroen Dijsselbloem at 11 a.m. (5:00 a.m. ET), an EU spokeswoman said. Euro zone finance ministers are due to meet 90 minutes later and a summit of euro zone prime ministers and presidents is scheduled at 7 p.m. (1:00 p.m. ET).
U.S. stock futures jumped in early Asian trade on Monday on hopes for a deal. The euro also ticked up against the dollar.
European ministers have played down the prospect of a final agreement on Monday but hope a political understanding can be reached in time for a full deal by the end of June.
Elected on a pledge to end austerity, Tsipras has defiantly resisted demands to cut pension spending and is pushing strongly for debt relief in return for any concessions.
But Greek officials have said Athens may be willing to consider raising value-added taxes or other levies to appease the lenders, who want concrete assurances that demanding budget targets will be met.
"There is no time to lose. Every day counts. Talks and negotiations must continue so that an agreement is reached," French President Francois Hollande told a joint news conference with Italian Prime Minister Matteo Renzi.
Locked out of bond markets and with bailout aid frozen since summer last year, Athens is quickly running out of cash. The deputy finance minister on Sunday confirmed Athens had enough money to pay public sector wages and pensions this month.
But Athens also urgently needs access to funds to avoid defaulting on a 1.6 billion euro ($2 billion) IMF loan that falls due at the end of the month. As the crisis gets pushed from one meeting to the next, each side has put the responsibility on the other's shoulders for finding a deal.
Money has drained out of Greek banks after a breakdown in talks last weekend, and Greece might have to impose capital controls within days if there is no breakthrough.
Underlining the pressure to stem the flow of withdrawals, Bank of Greece Governor Yannis Stournaras met senior bankers on Friday and told them to brace for a "difficult day" on Tuesday if no deal is reached, two bankers at the meeting told Reuters.
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Sources in Frankfurt and in Brussels said the European Central Bank's board would discuss the liquidity of Greece's banking sector at 0830 GMT (4:30 a.m. ET) on Monday. The sources said Greek pre-orders for deposit withdrawals for Monday had already reached 1 billion euros - after savers pulled over 4 billion euros out of their banks last week.
NO TO BLACKMAIL
For a deal to work, Tsipras will need a solution that is acceptable to his party or else may be pushed to call a snap election or a referendum to secure a mandate for an agreement.
Supporters of his Syriza party rallied in Athens on Sunday to send "a loud message of resistance" against demands for more cuts and tax hikes in a country battered by years of recession.
Under austerity measures imposed by the IMF, EU and ECB in two bailouts, Greece's economic output has fallen by a quarter, wages and pensions have been slashed and unemployment is running at 25 percent.
The Greek government has argued the austerity imposed on the southern European country had made the crisis worse. A senior Syriza lawmaker said on Sunday that previous ideas put forward by Juncker would have led to a "social holocaust".
"Democracy cannot be blackmailed, dignity cannot be bargained," the Syriza party said in a statement on Sunday, announcing its planned protest.
"Workers, the unemployed, young people, the Greek people and the rest of the peoples of Europe will send a loud message of resistance to the alleged one-way path of austerity, resistance to the blackmail and scaremongering."
But the mood has also hardened in Germany, which has contributed more money than any other country to bailing out Greece. German Chancellor Angela Merkel is under pressure from within her ranks not to give in to Greek demands, even if that means contemplating Greece leaving the euro zone.
Merkel's Bavarian allies warned against giving in to Greece, with senior Christian Social Union lawmaker Hans Michelbach saying he saw no realistic chance of an agreement on Monday.
"If the EU lets the government in Athens get away with its intransigence, we can bury the euro," Michelbach said in a statement on Sunday.
"Either Greece declares itself willing for a viable solution or the country must leave the euro. The euro zone could cope with the consequences of a Greek exit," he said.
(Additional reporting by James Mackenzie, Renee Maltezou, George Georgiopoulos and Karolina Tagaris in Athens, Caroline Copley in Berlin, Isla Binnie in Rome and Jan Strupczewski in Brussels; Writing by Alastair Macdonald; Editing by Eric Walsh)
Good news. Greek banks will be protected from collapsing no matter what happens.
Moody’s believes that the ECB will likely continue to provide the necessary liquidity to Greek banks through the ELA, as long as there is the potential for a positive outcome to the negotiations. We don’t believe that the ECB would like to serve as the catalyst for a Greek eurozone exit, and we don’t believe that it will act without the implicit consent of euro-area political leaders.
ekathimerini.com , Saturday June 20, 2015 (18:08)
Some people are saying that after the financial restructuring which is going to happen in July you're getting 31 shares for every thousand you have now.
Lots of issues between Greece, Germany and the euro zone.
World war money Greece wants back from Germany. Russia's involvement. Greece does not want to lower pensions. Greece is tired of being bullied by the euro zone. Huge egos on both sides. World watching and neither side wants to look like they were beaten..
The only solution I can see is an extension to reach an agreement and the money owed at the end of the month will be pardoned till an agreement is reached. I also believe that if no deal is made this Monday the euro zone will have to give Greece what they want because Greece will never give up. The reason being is Greece is the one that owes the euro zone money and they can just continue not to make a deal with the euro zone. Greece will then take the euro zone to court on the count the measures are too harsh and inhumane
Here's where Greece is getting the money ...Initial deal for Russian gas pipeline approved
Greece inked a preliminary agreement with Russia Friday for the construction of a natural gas pipeline, whose construction is due to begin next year.
The memorandum of understanding, signed by Energy Minister Panayiotis Lafazanis, concerns the continuation of the Turkish Stream pipeline, to carry natural gas from the Black Sea to Western Europe. Russia’s VEB development bank will own 50 percent of the 2-billion-euro link and provide all financing, while Greece will own the rest, said Russian Energy Minister Alexander Novak.
“The pipeline is not against anyone in Europe or the world,” Lafazanis said. “It is here to serve people, peace and stability. Energy can bring people together and not feed cold war situations.”
That Greek section of the pipeline will have an annual capacity of 47 billion cubic meters, with construction starting in 2016 and completion set for 2019, said Novak.
Russian state-owned gas producer Gazprom, which will not own any part of the Greek pipeline, plans to split Turkish Stream into four lines with a total capacity of 63 billion cubic meters a year.
The Greek delegation included Prime Minister Alexis Tsipras, who held talks with Russian President Vladimir Putin. The Russian leader’s spokesman, Dmitry Peskov, said ahead of the talks that Russia would consider a loan if the Greek government asked for one, but following talks between Putin and Tsipras Friday evening he said such a possibility “wasn’t discussed.”
ekathimerini.com , Friday June 19, 2015 (22:18)
Nbg closed $.99 US in Greece
Since this is a financial restructuring, am I correct in saying that it's not a reverse split of common shares.
Do we get to keep our shares and there will be 31 extra common shares given to us for every 1000 we own....
Example::: if you have 1000 shares will you have 1031 shares after the restructuring.
Good thing the euro zone held the meeting today.... I had said earlier to get in late Wednesday. That saved my azz as to what happened at hero.... this is way too risky for me.... I think it's gone to far for a deal to be made... what I believe is going to happen is that the euro zone will delay the payment that has to be made by end of June.... The euro zone and Greece are looking very ridiculous these days. So what will happen is the euro zone will give Greece one more date but it will be a final date
Today's Greek news:::Eurozone leaders are to convene on Monday for an emergency summit to discuss the Greek crisis after eurozone finance ministers meeting in Luxembourg on Thursday failed to make any progress toward breaking an impasse between Greece and its creditors as withdrawals from Greek banks intensified.
In the late evening, as it became clear that the deadlock remained, European Council President Donald Tusk called a summit for Monday, writing on his Twitter account, “Time to discuss the situation of Greece at highest political level.”
At a press conference last night, Greek Finance Minister Yanis Varoufakis told reporters he believed there was still time to reach a deal with creditors but also warned that “an accident” was drawing “dangerously close” as talks between Greece and its creditors remain deadlocked.
Varoufakis accused Eurogroup President Jeroen Dijsselbloem of “focusing only on Greece’s responsibilities” and not those of its lenders, saying he had submitted “comprehensive” proposals that “would solve the Greek crisis once and for all.” The plans included a “fiscal council” to help oversee Greece’s budget. He complained that Greek proposals for a “swap” where the European Stability Mechanism would buy Greek bonds held by the European Central Bank were not discussed at the Eurogroup “for political reasons” despite being “logical.”
He said Athens could not accept lenders’ plans as they would simply increase “already high tax rates” and “reduce benefits to the weakest.”
In a separate press conference earlier, Dijsselbloem appeared downbeat. “No agreement as yet is in sight,” he said. He added there was still a chance to reach a deal but stressed that “very little time remains.” “Greece needs to become financially independent,” he said. “Any deal that simply doesn’t deliver that... would be also a bad deal for the Greek people.” Asked if he could imagine Greece being forced out of the euro, he said, “The way it goes now we’re going in that direction.”
Christine Lagarde, the managing director of the International Monetary Fund, told the same press conference that a resolution to five months of negotiations required “adults in the room,” an apparent dig at Greek government officials. “The IMF teams are available day and night. They stayed for entire weeks in Brussels and waited and are ready to return,” she added, noting that Greece’s proposals “cannot be about smoke and mirrors.” “We are waiting and we hope the next few days will be used by the Greek government to come up with tangible measures.” She added that the Fund would consider Athens in default if it misses a 1.6-billion-euro June 30 debt repayment. “It will be in default, it will be in arrears vis-a-vis the IMF on July 1, but I hope it is not the case, I really do,” Lagarde said. “There is no grace period or two-month delay, as I have seen here and there.”
As uncertainty peaked and amid intensifying speculation about a possible Greek default and exit from the eurozone, deposit outflows from Greek banks continued Thursday.
Where's the news .It's 12:30 am in Greece
Coruption runs the stock market. No warning at all.Why not put out that news at market open and give
some people a chance.Don't trust hero management again.
tomorrow is the meeting day....50/50 chance..,.nbg either $1.50 or $.75 tomorrow
Ended $1.02 US in Greece
No deal tomorrow.Greece has to many weapons.Russia wants operations in Greece and the United States doesn't want that. Greece will get what they want from the Euro Zone or the United States.No way will the world allow Russia access to Greece....no deal tomorrow but will happen sometime in July...Extention will be given to Greece
Oil up over $60 again
OPEC will win. The shale oil process pollutes ground water and people are already fighting this ans many states have already outlawed the process