Greece finds solution to end debt crisis deadlock
Greece's economy minister says the leftist government has devised a new plan to generate much needed funds from businesses and the rich in order to break a deadlock on its debt crisis.
Giorgios Stathakis told state-funded BBC on Monday that eurozone finance ministers have accepted the plan, expressing hope that there could be an accord between them "within days".
Stathakis added he was confident the new proposals to balance the books would break the deadlock between Greece and its international creditors.
"We [will] try to remove the tax burden from pensions and wages towards business and the wealthy," he said.
The minister added Athens’ proposals also included an increased VAT rate for some special items.
The minister’s remarks came as emergency talks in the Belgian capital,Brussels, were held between Greece and its international creditors to hammer a deal to free up 7.2 billion euros ($8.2 billion dollars) needed by the cash-strapped country to cover its 1.6-billion-euro debt to the IMF by the end of June.
Meanwhile, the European Union president claimed the new proposals are the first real step in weeks by Athens towards finding a true solution.
"The latest Greek proposals are the first real proposals in many weeks although they still need - it's obvious for me - the assessment of the (creditor) institutions and further work," said Donald Tusk.
"Leaders take full responsibility for the political process to avoid the worst case scenario, which means uncontrollable, chaotic Grexident," he said, referring to the probability of Greece's accidental exit from the single currency bloc.
Also, Jeroen Dijsselbloem, the head of Eurogroup - the eurozone finance ministers group - welcomed Athen's scheme and expressed hope for reaching a deal by later this week.
If Athens succeeds to receive the much needed bailout funds, it could avoid a default and a possible exit from the eurozone.
XLS/MHB/AS
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