in spite ofacceleration recorded in the Eurozone averagein the fourth quarter of 2014 the GDP of Greece it dropped by 0,2% compared to the July-September period (the forecasts spoke of a growth of 0,4%), after the positive changes recorded in the first three quarters. In any case, according to the preliminary estimate of the Greek statistical body, the annual variation remained positive, indeed marking a slight strengthening to +1,7% from the previous +1,6%.
In the meantime, however, the Greek financial markets are registering a new leap forward, after the news filtered by the European summit has revived hopes of a compromise with the rest of the euro area on debt.
Late in the morning the Athens Stock Exchange travels up by 6%, while strong purchases are also recorded on Greek government bonds, so much so as to bring yields on ten-year maturities below the psychological threshold of 10%, to 9,488%, with 722 basis points less than yesterday's closing. Five-year rates fell by as much as 1.712 basis points, to 13,059%.
According to various press reports, the meetings between EU leaders in Brussels favored the start of technical negotiations to try to set up a framework of agreement in view of the new Eurogroup on Monday.
The Greek premier Alexis Tsipras he reiterated at the end of yesterday's meeting in Brussels that his country "does not engage in blackmail and does not accept it". Yesterday's meeting of finance ministers took place in an "intimidation scenario" on the risk of "failure" in the event that Athens does not "accept the proposals" of its partners, but "we have not signed and there is no there was no catastrophe,” he added. On the contrary, according to Tsipras, "important steps" have been taken and the "only topic" of the ongoing talks and those that will begin on Monday with the Eurogroup will be "the transition" between the current memorandum, which expires on 28 February, and “the new Greek program”.
In order to avoid bankruptcy, “the meaning of our discussion is to guarantee an insurance contract with the ECB – concluded the Greek prime minister -. All negotiation is to cover our arrears. Forget the memorandum, it no longer exists. Nor the Troika."
Tsipras and the president of theEurogroup Jereon Dijsselbloem agreed that meetings at a technical level will resume starting today to compare the aid program valid until February 28, on the basis of which the creditors have undertaken to help Greece financially, and the program of the new government.
La European Central Banklastly, it raised the availability of emergency funds (Emergency Liquidity Assistance) in favor of Greek banks to 65 billion euro from the previous 60 billion.
