Greek PM Dismisses Latest Bailout Proposal, Accuses Creditors of Blackmail

World » EU | June 26, 2015, Friday // 20:40
Bulgaria: Greek PM Dismisses Latest Bailout Proposal, Accuses Creditors of Blackmail Greece Prime Minister Alexis Tsipras arrives for the European Summit at the EU Council headquarters in Brussels, Belgium, 26 June 2015. Photo: EPA

Greek Prime Minister Alexis Tsipras dismissed on Friday the latest proposal of the international creditors to extend the country's bailout, criticising their approach as unacceptable.

Tsipras stressed that the founding principles of the EU were democracy, solidarity, equality and mutual respect rather than ultimatums and blackmail, the Greek Reporter informs.

The Greek prime minister made it clear that his government will continue fighting in favour of these principles and on behalf of the Greek and European people.

Following the conclusion of the European Council summit in Brussels, Tsipras is expected to return to Athens on Friday evening and hold an emergency cabinet meeting.

The government should discuss the latest developments in the bailout negotiations ahead of the vital Eurogroup meeting of eurozone finance ministers, which is scheduled to take place on Saturday.

According to Greek sources, the document of proposals presented to Greece by the institutions was worse than a memorandum.

Earlier on Friday, the creditors proposed to Greece a five-month extension of the current bailout programme until the end of November, which would release EUR 15.5 B of funding, EUR 1.8 B of which will be available immediately.

Greece is in an urgent need to negotiate a further bailout from its creditors before the end of the month, so it can fulfill its debt repayment to the IMF, which falls due on June 30.

In order for Greece to be granted the additional bailout of EUR 7.2 B, it will have to agree to carry out certain reforms, otherwise it risks defaulting and possibly leaving the eurozone.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

EU » Be a reporter: Write and send your article
Tags: greece, creditors, bailout, debt, repayment, reforms, Alexis Tsipras, European Council, Eurogroup, Eurozone, default, IMF
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria