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cheap Canada Goose BRUSSELS (Reuters) European Union officials are working on a contingency plan for Greece if its parliament rejects an austerity program and the country cannot receive the next instalment of EU/IMF emergency loans, three euro zone sources said on Monday. cheap Canada Goose
Canada Goose online The Canada Goose sale sources said planning had been going on cheap Canada Goose for several weeks and was designed to ensure Greece gets the liquidity needed to avoid default in the absence of the next, 12 billion euro tranche of its emergency loan package, due by mid July. Canada Goose online
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buy canada goose jacket cheap been thinking about contingency for some time, for several weeks, one senior euro zone finance official involved in the Greek bailout told Reuters. The other sources seconded that line, saying there was planning to step in if the Greek parliament rejects the austerity program. buy canada goose jacket cheap
canada goose store this sort of situation, you can afford not to think about what might happen next, the first source said. canada goose store
The sources would not confirm in detail what the current plan Canada Goose Outlet involved, but said several options had already been dismissed, including an EU bridging loan to Athens.
buy canada goose jacket option was discussed a few days ago, before buy canada goose jacket the Eurogroup meeting in Luxembourg (on June 19 20), but I understand it now been ruled out, a second source said. buy canada goose jacket
They would not be drawn on what action banks might take, but British Prime Minister uk canada goose outlet David Cameron made clear at an EU summit last week that banks needed to strengthen their canada goose factory sale balance sheets and be ready for any potential fallout from Greece.
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Canada Goose sale right across Europe that have exposure to Greece. every bank needs to make absolutely clear what its exposure is. Canada Goose sale
canada goose coats REPAYMENTS DUE Greece has to roll over 2.4 billion euros of 6 month treasury bills on July 15 and 2.0 billion euros of 3 month bills a week later. In August, it has 5.9 billion euros of 5 year bonds maturing and must roll over 2.5 billion of bills. canada goose coats
Failure to refinance the debts would result in the first default since the euro zone was created in 1999.
canadian goose jacket The canada goose uk black friday Greek parliament will hold votes on June 29 and 30 on the austerity program it has agreed with the EU, IMF and cheap canada goose uk European Central Bank, which includes 6 billion euros of spending cuts and revenue increases this year alone. canadian goose jacket
canada goose The votes are expected buy canada goose jacket cheap to be extremely close, with opposition parties rigidly opposed. canada goose store While the government canada goose uk outlet has a majority of about five seats in parliament, EU officials are privately concerned that the vote could conceivably canada goose clearance be lost. canada goose
Canada Goose Parka If the program is rejected, the canada goose coats EU will have canada goose no choice but to join the IMF in refusing to disburse the 12 billion euro payment the Canada Goose Jackets fifth tranche of the 110 billion euro ($156 billion) package of bilateral loans Greece agreed in May 2010. Canada Goose Parka
canada goose clearance While Greece may be able to roll over its treasury bills in July, it would not have enough money to redeem the 5.9 billion euros of 5 year bonds it has falling due on August 20. canada goose clearance
One of the sources canada goose uk shop said the most likely way a default would be avoided in that case would be the extension of another loan from a uk canada goose third canada goose coats on sale party, although they would not go into details.
canada goose coats on sale find it difficult to believe that no bank, no institution, would be ready to extend Greece a further loan, the source said. the right terms, it will be done. canada goose coats on sale
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