No extraordinary Eurogroup tomorrow after the success of the NO in the Greek referendum. "We would not know what to say," said a European official before a political clarification at the Europe summit that will begin with tomorrow's meeting between French President François Hollande and German Chancellor Angela Merkel.
It is a matter of understanding whether or not Europe will reconfirm the 5-month extension of aid for 10 billion to Athens, which will thus be able to face the imminent maturity of the debt installments both towards Europe and towards the Monetary Fund avoiding the default which would otherwise be triggered next July 20th. But for this to happen it is necessary that, after the referendum, Greece is able to commit itself in terms of reforms. Also because the pronouncement of the Greek people is important but certainly cannot overlap or cancel that of the European peoples who have already made the reforms and who have endured austerity before Athens.
Only if there is an initial agreement between the parties will Europe be able to discuss the extension of the Greek debt.
There is also great expectation for Mario Draghi's ECB meeting tomorrow, which must decide whether or not to continue Ela's emergency loans to Greece, without which the Greek banks, which have now run out of liquidity, will not be able to reopen the counters.
