There’s no Plan B for Athens, states Brussels
Greece has clear objectives that it needs to achieve if it is to overcome its debt crisis and there is no alternative to meeting those goals, the European Commission said yesterday.
“There is no alternative. We have a plan, now it’s time to act on it, it’s time to implement it. There is no alternative. There is no Plan B,” Commission spokeswoman Pia Ahrenkilde Hansen told a news conference.
The EU wants Greece to approve even deeper spending cuts and further tax increases, coupled with selling off state assets, in order to bring its finances into line. In exchange it will receive 12 billion euros in further emergency assistance from the European Union and International Monetary Fund, allowing it to avoid defaulting on its debts.
A senior German government official said yesterday that Greece is not on the agenda of the EU summit today or tomorrow, but bloc leaders will likely talk informally about the issue.