If the euro zone finance ministers in debt dispute with Greece not reach an agreement, the leaders want to meet in Brussels.
An emergency plan of the euro area provides, prepare capital controls from the weekend.However, the Greek parliament would adopt these controls.
Already on Wednesday decided by the Board of the European Central Bank, whether they grant Greece more emergency loans (ELA).
Analysis of Cerstin Gammelin, Berlin, and Alexander Mühlauer, Brussels
The euro partners have agreed in the face of the solidified negotiations with Greece on a contingency plan for Athens. This became known on Monday in Berlin and Brussels. It stipulates that creditors want to give the Greeks initially another chance and wait to see if by the end of the week it is possible to Euro finance ministers to agree with the government in Athens to the corners to meet the current emergency program. The ministers meet Thursday and Friday in Luxembourg.
Elapses this deadline without agreement, to be convened without further delay a special meeting of heads of state and government in Brussels. In an interview for this is Friday night.At the special summit a political solution should be sought again. French President Francois Hollande warned on Monday against the failure of the negotiations. The deadlines were extremely short. "I have often said: caution, we now come in a period that can be turbulent, if no agreement is found," he said during a visit to the air show in Le Bourget near Paris.
Controversy over Greece burdened Dax
After another setback in the negotiations to resolve the Greek debt crisis, the DAX continued its descent.
The emergency plan is to prepare the control of the Greek-European payments on weekends.This would require the banks remain closed in Greece a few days. After its reopening daily ATM withdrawals and electronic payments might restricted domestically as well as abroad are blocked. Capital controls are designed to prevent a bank run and the massive outflow of bank notes. They were first introduced in 2013 in Cyprus, as the state had applied for a bailout program. There they are now completely canceled.
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Since the free movement of goods and financial transactions is a fundamental principle of the European Union, the government in Athens would have to pass a special law in order to control and limit the payments may. If Athens refuse to remain the euro area countries as a last resort, to isolate Greece in the payment system.
The President of the European Central Bank (ECB), Mario Draghi, said on Monday in the European Parliament to demand that you will let Greek banks first in the money drip. The liquidity support would continue as long as the banks are solvent. But he added that the situation was in development. "Therefore, we must monitor the situation closely." On Wednesday, the Bureau of the ECB convenes. The central banker must then decide whether they grant Greece more emergency loans. Should the ECB decide against it, would the banks to limit the payments - which could increase the willingness of the government in Athens, but to meet the modified bailout yet. Linked to this is the disbursement of 19 billion euros.Despite a failed mediation attempt on Sunday evening European Commission President Jean-Claude Juncker maintains an agreement with Athens continued to be possible.
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