Greece not to extend bailout, eyes bridge loan: PM
Greek Prime Minister Alexis Tsipras has ruled out any stretch of the country’s international bailout, stressing that Athens seeks a “bridge” agreement with European partners.
In his first policy address to Parliament on Sunday, the new prime minister said the country cannot ask for an “extension of mistakes,” beyond February 28 when bailout loan by international creditors is slated to end, adding that "the bailout failed."
Tsipras, the youngest Greek premier in 150 years, stated that his nation demand the government to “immediately end austerity and change policies," stressing, “We are not negotiating our national sovereignty."
In 2010, Greece enforced severe budget cuts in return for a 240-billion euro (USD 270-billion) bailout from the troika of lenders - the European Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB).
Tsipras further stated that within the next 15 days Greece is considering a “bridge” agreement with European partners that asks for permission to issue additional short-term debt while it seeks a new deal.
He reiterated that the first priority of his government is to “tackle the big wounds of the bailout, tackling the humanitarian crisis just as we promised to do before the elections."
The premier also promised to cut bureaucratic spending, restore pension bonuses, revoke property tax to end mass layoffs and raise the minimum wage back to pre-crisis levels.
In exchange for the bailout loans, Athens has had to impose harsh austerity measures, which have caused mounting dissatisfaction in the country. The austerity measures have included multiple tax increases, as well as cuts in pensions and salaries.
The premier’s remarks came just days before an extraordinary meeting of Eurozone finance ministers in the EU’s de facto capital, Brussels.
HJM/NT/AS
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