We don't pay. Indeed, yes. At least what we can. The June deadline for the repayment to the IMF is approaching and the Greek front becomes even more chaotic, as far as is now possible. Yesterday Interior Minister Nokos Voutsis declared that Athens would not pay the next installment of debt to the Monetary Fund: "There is no cash in hand - he said, adding that the EU and the IMF, in exchange for granting the necessary aid, pose "unacceptable conditions ”.
Today, however, Syriza rejected the request of the extremist wing of the party not to repay the loans to the Fund. Calls to nationalize the banks and to hold a referendum that would give voters the power to reject any deal with international creditors were also rejected. "Greece and its creditors have an imperative need to reach an agreement as soon as possible," said the Government spokesman adding: “As long as we are in a position to pay our commitments, we will pay them. It is the government's responsibility to be in a position to meet its obligations."
However, Greece's partial rethinking of the IMF repayment in June failed to revive the markets, which closed in negative territory. However, it should be remembered that the session is halved, because many important markets in the Old Continent together with the US and some Asian price lists are closed today. In Europe it is a holiday in London and Berlin and in the USA Memorial Day is underway. Hong Kong is also closed, which celebrates the birth of Buddha. Tokyo, on the other hand, was open and posted its seventh consecutive session gains (+0,74%), climbing to April 2000 levels, thanks to better-than-expected foreign trade data and a weakening yen against the dollar . The euro-dollar exchange rate dropped 0,38% to 1,0971 and Wti oil rose by 0,67% to 60,12 dollars a barrel.
Athens closed down 3,1%. Realizations took off in Milan -2,09%, in Paris the Cac40 limits the declines to -0,5% while the Spanish Ibex loses 2,01%. On the other hand, the second earthquake of the stock exchange session comes from Madrid: the popular party collapsed in the administrative elections and the radicals of Podemos took over. Meanwhile in Poland the ultranationalist and eurosceptic Duda won. Despite the tensions, the spread, after rising over 130 points, closed at 123 basis points, the yield on the ten-year BTP is 1,84% and on the ten-year Bonos at 1,79%.
The Ftse Mib is dragged down by Finmeccanica -4,46%, Unicredit -3,18% and FCA -3,06% also affected by the disappointment of the stop that would have arrived, according to the New York Times, by the CEO of GM Mary Barra to scenarios of integration with the Lingotto. Among the worst also Ubi Banca -3,01% and Saipem -2,97%. Only Mps closes in positive territory, which stands out with a leap of 11,3% in conjunction with the capital increase. The shares never managed to enter trading and closed the session at 2,14 euros, while rights fell by 18,41% to 6,14 euros. The 3 billion euro operation will close on June 8, while the rights to subscribe to the increase will be exercisable until the 12th.
