D- Day for Greece with last gasp plan
GREECE will today announce it will enact tax and pension reform in exchange for a threeyear financial bailout package the Government hopes will avert its collapse and keep the country in the eurozone.
After a jocular start to a summit on Tuesday that attracted the ire of EU leaders, Greek Prime Minister Alexis Tsipras has now taken a more sombre tone as he announced new reform measures could begin as early as next week.
There was no detail behind his announcement but he had until today to present to a sceptical EU forum a cost- accounted reform plan on the day branded Greece’s absolute last chance.
Mr Tsipras assured it would provide a “definitive end” to his country’s financial woes.
“We need to ensure the medium- term funding of our country with a development and growth program,” he told EU politicians in Strasbourg.
His words were greeted with positivity but caution.
We need to ensure the medium- term funding of our country with a development and growth program
Spain’s Prime Minister Mariano Rajoy said: “The tune has changed, it’s not what we were hearing until now and that’s positive.”
Many other EU leaders, however, feared the “new” package would include old, already rejected features such as a request for the EU to wipe off 30 per cent of the debt as a goodwill gesture.
Such a move would be blocked by German Chancellor Angela Merkel with 100 of her own MPs threatening a rebellion if she moves to back down. Opinion polls have also hardened, with 92 per cent of Germans reportedly against a third bailout plan.
Greece has already had two bailouts from its EU partners.