Thursday, July 9, 2015

Greece vows reforms for new bailout

Greek Prime Minister Alexis Tsipras vowed to present "credible" reform plans before a Thursday deadline set by exasperated European leaders, as Athens formally asked for a new bailout to avoid crashing out of the euro.

Tsipras was greeted by a mixture of boos and cheers as he addressed the European Parliament Wednesday, defending his decision to hold a bailout referendum last Sunday that dismayed Europe.

"The Greek government will tomorrow file new concrete proposals, credible reforms, for a fair and viable ­solution," Tsipras told European lawmakers in Strasbourg, France during a heated ­debate.

Tsipras also appealed for unity on all sides after six months of deep rifts with eurozone colleagues over the Greek debt crisis, saying, "let us not allow it to become a divided Europe."

But EU President Donald Tusk warned that a special summit of EU ­leaders on Sunday was the final chance for a deal to avoid a "Grexit," an exit from the single currency that would have global repercussions.

"This is really and truly the final wake-up call for Greece and for us, our last chance," said Tusk, warning that failure "may lead to the bankruptcy of Greece" and cause geopolitical problems for Europe.

  • Greece's banks remain closed for a second week, amid a cash crisis which saw the country last month become the first developed economy to default on an IMF loan payment.

Eurozone leaders lost patience at a crisis meeting in Brussels on Tuesday after Tsipras and his new Finance Minister Euclid Tsakalotos turned up without any concrete plans on paper.

They ordered Athens to file a complete reform plan by midnight (22:00 GMT) on Thursday, with Tusk saying the "final deadline" for a deal would then be Sunday's summit of all 28 EU leaders.

The Greek government promised Wednesday it would start pension and tax reforms next week, as demanded by creditors, in return for a three-year loan to drag its financial system back from the brink of collapse.

In a formal letter to the European Stability Mechanism, the lender of last resort set up during the eurozone debt crisis, Tsakalotos said Greece would "immediately implement a set of measures as early as the beginning of next week."

The price of those loans was five years of harsh austerity measures, and in Sunday's Greek referendum voters overwhelmingly rejected more of the same offered by international creditors.

  Source:AFP -


  1. Greek opposition leaders on Wednesday demanded that Prime Minister Alexis Tsipras reach a deal to keep Greece in the euro system....

    Socialist PASOK leader Fofi Gennimata said Tsipras had “one and only choice, one and only mandate, one and only one way: To say the big ‘Yes’ to Europe and to the eurozone.”

    Stavros Theodorakis, leader of To Potami, said failure to submit a proposal to keep Greece in the Eurozone would be “treated as an act of treason by the Greek people.”

    Evangelos Meimarakis, interim leader of New Democracy, warned that leaving the euro would be the road “without return”.

    Speaking at a party meeting, Meimarakis called for Tsipras to address parliament on his return from Brussels, where he is trying to work out a deal with Greece’s creditors. "This is a matter of supreme public importance and should be explained to the entire parliament so that the public can hear it as well," he said.

    The Greek government has until Sunday to reach agreement with its European creditors on a new bailout.

  2. Schäuble ermuntert Griechen zu Reformen...

    Bundesfinanzminister Wolfgang Schäuble fordert von der griechischen Regierung, endlich konkrete Reformen einzuleiten. "Just do it. Das würde wahnsinnig viel Vertrauen gewinnen", sagte Schäuble auf einer Bundesbank-Konferenz in Frankfurt. Seine Fantasie sei allerdings begrenzt, dass die Regierung in Athen noch bis Sonntag konkrete Reformschritte ins Parlament einbringe. Es sei jetzt an der Zeit, die Währungsunion zu stärken und für nachhaltiges Wachstum zu sorgen, betonte Schäuble.

  3. „Klassischer Haircut kommt nicht infrage“...

    Der Internationale Währungsfonds fordert eine Umschuldung, um Griechenland wieder auf Kurs zu bekommen – dagegen wird Bundeskanzlerin Angela Merkel von der eigenen Partei bedrängt, nicht zu viele Zugeständnisse im Griechenland-Poker zu machen. Auf ihrer Auslandsreise stellte Merkel nun noch einmal klar, dass sie einen Schuldenschnitt für Griechenland ablehnt. „Ein klassischer Haircut kommt nicht infrage“, sagte sie in


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