Tuesday 30 June 2015

Greece's Tsipras Asks For Two-Year Rescue Deal

Greece has submitted a plan to creditors for a two-year rescue deal just hours before Athens is likely to default on a loan to the International Monetary Fund.

A statement released by Greece's Prime Minister Alex Tsipras says Athens remains at the negotiating table amid uncertainty over the country's place in the euro.
The two-year proposal submitted to the eurozone's rescue fund includes a request for debt restructuring.
"The Greek government proposed today a two-year deal with the ESM (European Stability Mechanism) to fully cover its financial needs and with parallel debt restructuring," it said.
The statement added that Greece "remains at the negotiating table" and that Athens will always seek "a viable solution to stay in the euro".
Eurozone finance ministers are due to discuss the proposal in a conference call to be held at 6pm BST.
But German Chancellor Angela Merkel has told EU leaders she does not expect any new developments on solving the Greek debt deadlock today.
Mrs Merkel added that the consequences of the Greek crisis can be cushioned by Europe and there is no need to fear the effects on the eurozone.
Mr Tsipras admitted on Monday night that his country is unlikely to meet a tonight's €1.6bn loan repayment.
In an interview with Greek TV, he remained defiant and rounded on the European Central Bank's decision not to raise its funding limit for Greek banks.

No comments:

Post a Comment