“The problem is that if the trading starts without restrictions, then many Greeks could withdraw their deposits and turn them into shares or bonds”, Takis Zamanis, chief trader at Athens-based brokerage Beta Securities, told Reuters.
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For an agreement to be reached, more reforms in Greece were needed, however. Meanwhile, Mr Varoufakis is accused of planning to hack the Greek tax system to create a shadow banking system as the first step towards the drachma.
“Conservatives circles in Europe are still pushing for a Grexit”, despite the July 13 agreement and the ongoing talks on a third bailout to keep Greece afloat and in the eurozone, the Greek Leftist leader said during an interview with local radio station “Sto Kokkino” (In Red).
Mina Andreeva, a spokeswoman at the European Commission, said teams from the institutions are “now already on the ground in Athens and work is starting immediately”.
This argument was that Greece could remain in the euro with European financing but without implementing any kind of bailout programme through austerity measures and structural reforms. The European Central Bank continues to provide emergency funding for Greek banks but has capped the amount.
In particular, it was approved not only by the great majority of the parliamentarians of the coalition government SYRIZA-ANEL, but also by the MPs of the pro-European pro-bailout opposition parties, namely the center-right New Democracy, the centrist To Potami and the centre-left PASOK (Panhellenic Socialist Movement).
A finance ministry official said in an e-mail to reporters today that both sides aim to complete a deal for a new bailout program as soon as possible, while the government has said it targets a disbursement from the new loan facility before August 20, when a payment to the European Central Bank comes due. When Tsipras’ Syriza movement came to power in January, it sought to scrap the previous bailout and reverse austerity measures. Tsipras kept trying to escalate the talks to a political level to avoid detailed technical documents setting out reform obligations.
Tsipras admitted that the terms of the bailout package were not ideal and told audiences that negotiations are not over.
But Tsipras is dealing with a revolt in his own party over conditions that other eurozone countries are demanding in return for 85 billion euros in new financing.
Varoufakis made the claim in a leaked conference call with London investors, during which he said he had been secretly building a parallel money system that involved hacking into his ministry’s computers because they were controlled by the creditors.
The group would devise a parallel payment system operating using wiretapped tax registration numbers.
The discovery that Varoufakis was focusing on An Idea N over Greece’s upcoming was one of many in an extensive-running conversation around the Greek situation.
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“The secretariat general of public revenue is a quasi-independent entity, responsible for tax administration that is formally part of the ministry of finance”, she said.
