Greek leader optimistic about EU summit on Monday
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Greek leader optimistic about EU summit on Monday

Greek leader optimistic about EU summit on Monday

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(AGI) Rome, June 19 - Greek Prime Minister, Alexis Tsipras, isoptimistic and certain that the planned eurozone heads of stateand government summit on Monday would come up with anagreement. "The [eurozone] leaders summit on Monday is apositive development on the road toward a deal. All those whoare betting on terror and crisis scenarios will be provenwrong," he said. There will be a solution based on the respectof EU rules of democracy that will allow Greece to return togrowth," the Greek leader added. EU officials also said theeurozone finance ministers would discuss the management of aGreek default in the absence of agreement with creditors.Meanwhile Greece has been hit by capital flight, with more thanone billion euros withdrawn from banks on Friday. According tothree banking sources, 4.2 billion euros have been withdrawnthis week, or 2.2 percent of the country's total bank deposits.This is why the Governing Council of the European Central Bankheld a teleconference meeting on Friday to discuss an increasein emergency liquidity for Greek banks (ELA), whose ceiling hasjust been raised by 1.1 billion euros to 84.1 billion. The ECBalso increased emergency liquidity for Greek banks by 1.8billion euros. Berlin assured that it would negotiate "untilthe last minute" but that Athens must introduce reforms.According to Peter Altmaier, German Chancellor Angela Merkel'schief of staff, Greece must respect its commitments "as othercountries such as Spain, Portugal and Ireland did in the past"."We regret that there was no progress at the Eurogroup" but"it's not too late for this and of course we hope that such anagreement is possible," said the chancellor's spokesman SteffenSeibert. According to the Minister of Economy, Pier CarloPadoan, the very fact that a Eurozone summit has been called isproof that "there is room for an agreement". If the unwelcomeand distant possibility of a Greek exit from the Euro, occurred"the financial markets would suffer" and Padoan would not besurprised "if there were changes in yields and spreads". (AGI). .
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