There’s no Plan B for Athens, states Brus­sels

Kathimerini English - - BUSINESS & FINANCE -

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.

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