Tuesday, February 3, 2015

Translation: Tsipras took money under the table to sell out his supporters and his nation.

"The new Syriza-led government has demanded some form debt write-off on the country's €317bn liabilities, two-thirds of which are owned to official creditors in the form of the EU and the IMF."
"Prime Minister Tsipras says a debt deal is imminent and there is "no way" Greece will not fulfill obligations to the Troika".  "The battle lines between Greece and its creditors were drawn in Athens as the Greek finance minister announced that the new government would refuse to engage with representatives of the country’s hated troika of lenders."  "Greece's new prime minister has insisted his country will fulfil all of its loan obligations to creditors as it appointed private bank Lazard ahead of crunch talks with the Troika."  Confused? You should be.   Greece's new prime minister has insisted his country will fulfil all of its loan obligations to creditors as it appointed private bank Lazard ahead of crunch talks with the Troika.    In a statement released earlier, Alexis Tsipras said: "I am absolutely confident that we will soon manage to reach a mutually beneficial agreement, both for Greece and for Europe as a whole."  "No side is seeking conflict and it has never been our intention to act unilaterally on Greek debt."  Mr Tsipras said his commitment to end austerity and kickstart growth in the country, "in no way entails that we will not fulfill our loan obligations to the ECB or the IMF."  His comments came after German Chancellor Angela Merkel ruled out the possibility of debt forgiveness for Greece's new government, insisting that the indebted country should abide by the terms of its bailout arrangement....The stand-off between Greece and its creditors escalated on Friday after Yanis Varoufakis, Greece's new finance minister, ruled out any cooperation with the country's Troika of lenders, calling them a “rottenly constructed committee."  Anti-austerity Syrzia campaigned on the platform of staying within the euro and agreeing better terms on which it can service its debt.  Chancellor Merkel said Europe would stand by Greece should it continue to meet the conditions of its bailout.  "The aim of our policy was and is that Greece remains permanently part of the euro community," said Ms Merkel.  "Europe will continue to show its solidarity with Greece, as with other countries hard hit by the crisis, if these countries carry out reforms and cost-saving measures."  At over 175pc of its national output, Greece's debt mountain is the highest in the Eurozone.

 

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