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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/feb/16/greek-bailout-eurozone-ministers-hold-crunch-talks-live-updates
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| Version 2 | Version 3 |
|---|---|
| Greek bailout: Crisis escalates as eurogroup talks break up - as it happened | Greek bailout: Crisis escalates as eurogroup talks break up - as it happened |
| (about 1 month later) | |
| 11.22pm GMT | 11.22pm GMT |
| 23:22 | 23:22 |
| PS: Channel Four’s Paul Mason just tweeted what he believes is the elusive draft which Greece was prepared to sign today: | PS: Channel Four’s Paul Mason just tweeted what he believes is the elusive draft which Greece was prepared to sign today: |
| This is the draft @yanisvaroufakis claimed @pierremoscovici presented then withdrew. pic.twitter.com/tE1HJQOY4z | This is the draft @yanisvaroufakis claimed @pierremoscovici presented then withdrew. pic.twitter.com/tE1HJQOY4z |
| Something to watch tomorrow morning, or later today if you’re the other side of the Channel.... | Something to watch tomorrow morning, or later today if you’re the other side of the Channel.... |
| Updated | Updated |
| at 11.23pm GMT | at 11.23pm GMT |
| 11.01pm GMT | 11.01pm GMT |
| 23:01 | 23:01 |
| And that’s all for tonight.I’ll be back in a few hours to mop up the reaction to today’s event (alarm clock willing :) ) | And that’s all for tonight.I’ll be back in a few hours to mop up the reaction to today’s event (alarm clock willing :) ) |
| Many thanks, as ever, for reading and commenting. Goodnight! GW | Many thanks, as ever, for reading and commenting. Goodnight! GW |
| 10.54pm GMT | 10.54pm GMT |
| 22:54 | 22:54 |
| The latest developments in Greece also make the front page of the Guardian tonight, along with a dashing picture of a youthful George Osborne. | The latest developments in Greece also make the front page of the Guardian tonight, along with a dashing picture of a youthful George Osborne. |
| Tuesday's Guardian front page: Greek rescue talks collapse in acrimony #tomorrowspaperstoday #bbcpapers pic.twitter.com/N5TKguHOc8 | Tuesday's Guardian front page: Greek rescue talks collapse in acrimony #tomorrowspaperstoday #bbcpapers pic.twitter.com/N5TKguHOc8 |
| The full story is online here. | The full story is online here. |
| 10.53pm GMT | 10.53pm GMT |
| 22:53 | 22:53 |
| Alastair Winter, chief economist at Daniel Stewart & Co, has an interesting conspiracy theory about that first draft agreement: | Alastair Winter, chief economist at Daniel Stewart & Co, has an interesting conspiracy theory about that first draft agreement: |
| I wonder if the Moscovici draft that Varoufakis says he was willing to sign was a crude attempt by the federalists to bounce the Northerners | I wonder if the Moscovici draft that Varoufakis says he was willing to sign was a crude attempt by the federalists to bounce the Northerners |
| Varoufakis confidence may not just be game theory but knowing all Hollande Renzi Juncker Draghi Lagarde batting for him vs grim Northerners | Varoufakis confidence may not just be game theory but knowing all Hollande Renzi Juncker Draghi Lagarde batting for him vs grim Northerners |
| Updated | Updated |
| at 10.54pm GMT | at 10.54pm GMT |
| 10.33pm GMT | 10.33pm GMT |
| 22:33 | 22:33 |
| Video: highlights of Greek press conference | Video: highlights of Greek press conference |
| 10.14pm GMT | 10.14pm GMT |
| 22:14 | 22:14 |
| Greece makes the front page of the FT: | Greece makes the front page of the FT: |
| Just published: front page of the Financial Times US edition Tue Feb 17: pic.twitter.com/lEF0NE6tAm | Just published: front page of the Financial Times US edition Tue Feb 17: pic.twitter.com/lEF0NE6tAm |
| 9.54pm GMT | 9.54pm GMT |
| 21:54 | 21:54 |
| Are people being too gloomy tonight? Dan Davies of Frontline Analysts reckons he spies the outline of a deal: | Are people being too gloomy tonight? Dan Davies of Frontline Analysts reckons he spies the outline of a deal: |
| Yep. More I look at it, cutting away the emotions and bullshit, more I think €group and Greece are on the verge of a deal. | Yep. More I look at it, cutting away the emotions and bullshit, more I think €group and Greece are on the verge of a deal. |
| By which, I mean a deal which freezes new unfunded commitments (ie the current level of surplus, +/- economic outcomes) for 4 months | By which, I mean a deal which freezes new unfunded commitments (ie the current level of surplus, +/- economic outcomes) for 4 months |
| ... pending the negotiation of the proper new program in June, which both sides agree to negotiate toward in good faith. Might have ... | ... pending the negotiation of the proper new program in June, which both sides agree to negotiate toward in good faith. Might have ... |
| ... indication of lower primary surplus targets for longer. That looks it might be acceptable to both sides. | ... indication of lower primary surplus targets for longer. That looks it might be acceptable to both sides. |
| Worth noting that Dijsselbloem did speak about certain flexibility existing in the current bailout programme, and Varoufakis’s seemingly unsquashable confidence must be based on something..... | Worth noting that Dijsselbloem did speak about certain flexibility existing in the current bailout programme, and Varoufakis’s seemingly unsquashable confidence must be based on something..... |
| Updated | Updated |
| at 10.26pm GMT | at 10.26pm GMT |
| 9.49pm GMT | 9.49pm GMT |
| 21:49 | 21:49 |
| If you’re just joining us, you should check out our latest news story on tonight’s drama: | If you’re just joining us, you should check out our latest news story on tonight’s drama: |
| Greece bailout talks break down after Athens rejects ‘unacceptable’ eurozone demands | Greece bailout talks break down after Athens rejects ‘unacceptable’ eurozone demands |
| Talks between Greece and its eurozone creditors collapsed in disarray on Monday night, heightening concerns that the country is edging closer to a disruptive exit from the eurozone. | Talks between Greece and its eurozone creditors collapsed in disarray on Monday night, heightening concerns that the country is edging closer to a disruptive exit from the eurozone. |
| The breakdown of discussions in Brussels over the Greek bailout programme appeared to leave both sides as far apart as ever, although eurozone finance ministers said a last-ditch summit could be held on Friday. | The breakdown of discussions in Brussels over the Greek bailout programme appeared to leave both sides as far apart as ever, although eurozone finance ministers said a last-ditch summit could be held on Friday. |
| However, the Greek delegation was told in no uncertain terms that talks would recommence only if the country was willing to extend its bailout package, which carries a list of austerity measures that the new left-wing government in Athens has vowed to pare back. | However, the Greek delegation was told in no uncertain terms that talks would recommence only if the country was willing to extend its bailout package, which carries a list of austerity measures that the new left-wing government in Athens has vowed to pare back. |
| Effectively presenting Greece with an ultimatum, the eurogroup of eurozone finance ministers said Athens had until Friday to agree to maintain the current bailout under the auspices of the European Union, the European Central Bank and the International Monetary Fund – something that Greece has said is unacceptable. | Effectively presenting Greece with an ultimatum, the eurogroup of eurozone finance ministers said Athens had until Friday to agree to maintain the current bailout under the auspices of the European Union, the European Central Bank and the International Monetary Fund – something that Greece has said is unacceptable. |
| Greece’s finance minister, Yanis Varoufakis, made it clear in the acrimonious discussions in Brussels on Monday that Greece would not accept prolonging the bail out for six months unless the other 18 members of the eurozone agreed to water down the austerity conditions attached to the deal. | Greece’s finance minister, Yanis Varoufakis, made it clear in the acrimonious discussions in Brussels on Monday that Greece would not accept prolonging the bail out for six months unless the other 18 members of the eurozone agreed to water down the austerity conditions attached to the deal. |
| Varoufakis insisted that an “honourable agreement” was within reach for Greece, despite voicing strong criticism of unspecified advocates of Greece’s current bailout, who were playing “games with the future of Europe”. | Varoufakis insisted that an “honourable agreement” was within reach for Greece, despite voicing strong criticism of unspecified advocates of Greece’s current bailout, who were playing “games with the future of Europe”. |
| “We are going to meet half way during the next couple of days,” he said. “Europe will do the usual trick, it will pull a good agreement, an honourable agreement, out of what appears to be an impasse.”... (click here for more) | “We are going to meet half way during the next couple of days,” he said. “Europe will do the usual trick, it will pull a good agreement, an honourable agreement, out of what appears to be an impasse.”... (click here for more) |
| 9.34pm GMT | 9.34pm GMT |
| 21:34 | 21:34 |
| The plot thickens... | The plot thickens... |
| For everyone looking for a @pierremoscovici draft, I'm told it doesn't exist. It was more a statement of principles agreed by the two sides. | For everyone looking for a @pierremoscovici draft, I'm told it doesn't exist. It was more a statement of principles agreed by the two sides. |
| 9.34pm GMT | 9.34pm GMT |
| 21:34 | 21:34 |
| Greek government insiders are accusing some eurozone officials of deliberately scuppering chances of a breakthrough tonight, reports Efi Efthimiou, reporter at Greece’s CapitalGr. | Greek government insiders are accusing some eurozone officials of deliberately scuppering chances of a breakthrough tonight, reports Efi Efthimiou, reporter at Greece’s CapitalGr. |
| #Greece govt (sources) reax: Some have decided 2 torpedo the possibilities of reaching an agreement in Egroup & insist on implementing MoUs | #Greece govt (sources) reax: Some have decided 2 torpedo the possibilities of reaching an agreement in Egroup & insist on implementing MoUs |
| 9.27pm GMT | 9.27pm GMT |
| 21:27 | 21:27 |
| Another quick recap. | Another quick recap. |
| Greece’s finance minister had predicted that the Eurozone will produce an ‘honourable agreement’ within 48 hours to unpick the crisis over its bailout. | Greece’s finance minister had predicted that the Eurozone will produce an ‘honourable agreement’ within 48 hours to unpick the crisis over its bailout. |
| Varoufakis declared: | Varoufakis declared: |
| Europe will do the usual trick. It will pull a good agreement, an honourable agreement out of what seems to be an impasse. We did it last Wednesday, we will do it again now. | Europe will do the usual trick. It will pull a good agreement, an honourable agreement out of what seems to be an impasse. We did it last Wednesday, we will do it again now. |
| Varoufakis insisted that Greece will not leave the eurozone, despite fears that it could stumble out of its bailout programme in two weeks without a new funding deal. | Varoufakis insisted that Greece will not leave the eurozone, despite fears that it could stumble out of its bailout programme in two weeks without a new funding deal. |
| He also blamed eurogroup chief Jeroen Dijsselbloem for the collapse of talks in Brussels tonight. Varoufakis insisted he was willing to sign up to a statement on Greece’s bailout tonight, before Dijsselbloem changed it. | He also blamed eurogroup chief Jeroen Dijsselbloem for the collapse of talks in Brussels tonight. Varoufakis insisted he was willing to sign up to a statement on Greece’s bailout tonight, before Dijsselbloem changed it. |
| That move by Dijsselbloem triggered the ‘unprecedented’ collapse of tonight’s talks. | That move by Dijsselbloem triggered the ‘unprecedented’ collapse of tonight’s talks. |
| Earlier, Dijsselbloem had told reporters that the eurogroup felt strongly that Greece should request an extension of its bailout, to buy time to discuss the way ahead. | Earlier, Dijsselbloem had told reporters that the eurogroup felt strongly that Greece should request an extension of its bailout, to buy time to discuss the way ahead. |
| 9.09pm GMT | 9.09pm GMT |
| 21:09 | 21:09 |
| 9.00pm GMT | 9.00pm GMT |
| 21:00 | 21:00 |
| If you missed the Varoufakis press conference (or want to check any quotes, fellow hacks), there is a video replay here: | If you missed the Varoufakis press conference (or want to check any quotes, fellow hacks), there is a video replay here: |
| LIVE: Eurogroup meeting: Greek FinMin Varoufakis speaks after talks failure | LIVE: Eurogroup meeting: Greek FinMin Varoufakis speaks after talks failure |
| And Associated Press’s Derek Gatopoulos has kindly uploaded an audio recording. | And Associated Press’s Derek Gatopoulos has kindly uploaded an audio recording. |
| Here's full audio of Varoufakis news conference http://t.co/Qhs9wX7gJ8 #Greece @yanisvaroufakis pic.twitter.com/7sP0AzwoPo | Here's full audio of Varoufakis news conference http://t.co/Qhs9wX7gJ8 #Greece @yanisvaroufakis pic.twitter.com/7sP0AzwoPo |
| 8.51pm GMT | 8.51pm GMT |
| 20:51 | 20:51 |
| Peter Spiegel of the Financial Times says there’s confusion over why Greece would have signed the original draft statement prepared by Pierre Moscovici, but not the new one presented by Jeroen Dijsselbloem (as Yanis Varoufakis explained earlier) | Peter Spiegel of the Financial Times says there’s confusion over why Greece would have signed the original draft statement prepared by Pierre Moscovici, but not the new one presented by Jeroen Dijsselbloem (as Yanis Varoufakis explained earlier) |
| No #eurozone official I talked to can figure out why @pierremoscovici draft ok to #Greece but not other one. They say no diff on substance | No #eurozone official I talked to can figure out why @pierremoscovici draft ok to #Greece but not other one. They say no diff on substance |
| 8.32pm GMT | 8.32pm GMT |
| 20:32 | 20:32 |
| Instant reaction to the Varoufakis press conference (if you missed it, highlights start here) | Instant reaction to the Varoufakis press conference (if you missed it, highlights start here) |
| Don’t think I’ve ever heard a finance minister as lucid, erudite & intelligent as @yanisvaroufakis. Not sure if that helps in euro talks tho | Don’t think I’ve ever heard a finance minister as lucid, erudite & intelligent as @yanisvaroufakis. Not sure if that helps in euro talks tho |
| Highlight of Varoufakis presser for me was story of Moscovici draft that was withdrawn. Why don't they just leak that one too? #Greece | Highlight of Varoufakis presser for me was story of Moscovici draft that was withdrawn. Why don't they just leak that one too? #Greece |
| Varoufakis will so a deal if it says 'extension of loans' rather than 'programme'. He also believes the EU operates in realm of rationality | Varoufakis will so a deal if it says 'extension of loans' rather than 'programme'. He also believes the EU operates in realm of rationality |
| (so=sign) | (so=sign) |
| #Varoufakis says 'no doubt' Greece will strike aid accord. So does this mean he's softening his stance? | #Varoufakis says 'no doubt' Greece will strike aid accord. So does this mean he's softening his stance? |
| Strong stuff from Greek fin min on indivisibility of Europe; interesting to see how this plays when Russian sanctions back on agenda. | Strong stuff from Greek fin min on indivisibility of Europe; interesting to see how this plays when Russian sanctions back on agenda. |
| 8.26pm GMT | 8.26pm GMT |
| 20:26 | 20:26 |
| Last question to Yanis Varoufakis: What will markets make of the situation, and is the ball in Greece’s court or the eurogroup’s? | Last question to Yanis Varoufakis: What will markets make of the situation, and is the ball in Greece’s court or the eurogroup’s? |
| To talk about balls in court makes it a game, the Greek finance minister responds. This is not a game. We don’t have the right to play games with the future of Europe. | To talk about balls in court makes it a game, the Greek finance minister responds. This is not a game. We don’t have the right to play games with the future of Europe. |
| We and our partners are going to meet halfway, in the next couple of days. There will be intense discussions, indeed Varoufakis is sure they’re already happening while he’s in the press room. | We and our partners are going to meet halfway, in the next couple of days. There will be intense discussions, indeed Varoufakis is sure they’re already happening while he’s in the press room. |
| And he concludes by repeating that a deal will be agreed in time: | And he concludes by repeating that a deal will be agreed in time: |
| Europe will do the usual trick. It will pull a good agreement, an honourable agreement out of what seems to be an impasse. We did it last Wednesday, we will do it again now. | Europe will do the usual trick. It will pull a good agreement, an honourable agreement out of what seems to be an impasse. We did it last Wednesday, we will do it again now. |
| 8.21pm GMT | 8.21pm GMT |
| 20:21 | 20:21 |
| What will happen if Greece reaches March 1st without a deal? | What will happen if Greece reaches March 1st without a deal? |
| I’ve been taught to avoid hypothetical questions, Varoufakis smiles. | I’ve been taught to avoid hypothetical questions, Varoufakis smiles. |
| 8.10pm GMT | 8.10pm GMT |
| 20:10 | 20:10 |
| Yanis Varoufakis repeats that he was prepared to apply for an extension of Greece’s loan agreement today (before the text was changed). | Yanis Varoufakis repeats that he was prepared to apply for an extension of Greece’s loan agreement today (before the text was changed). |
| Greece was even prepared to add extra conditions, he declares, to demonstate its commitment to its partners. | Greece was even prepared to add extra conditions, he declares, to demonstate its commitment to its partners. |
| And then he argues that progress will be made by Wednesday night: | And then he argues that progress will be made by Wednesday night: |
| I have no doubt that within the next 48 hours Europe will come together and find the phrasing so we can move on to do the real work to find the common ground [and find a new situation] that is good for Greece and Europe. | I have no doubt that within the next 48 hours Europe will come together and find the phrasing so we can move on to do the real work to find the common ground [and find a new situation] that is good for Greece and Europe. |
| 8.10pm GMT | 8.10pm GMT |
| 20:10 | 20:10 |
| Varoufakis:"democracy changes the facts on the ground and we are a government that has a critique of the current programme." | Varoufakis:"democracy changes the facts on the ground and we are a government that has a critique of the current programme." |