No amount was mentioned. It is given until Thursday to present a convincing programme of reforms.
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He said that unfortunately the Greek government has not done anything to improve the economic situation in the country during this time.
“It’s not fair for the people of Greece”, he said. I believe something better will happen.”Tsipras made a big win in Sunday’s bailout referendum, when 61 percent of Greek voters rejected measures creditors had proposed last week in exchange for loans.In a sign he may be willing to compromise, Tsipras appointed a new finance minister to lead talks with creditors.Tsakalotos, a 55-year-old economist, has replaced Yanis Varoufakis, who constantly clashed with his peers”.
In a referendum held at the weekend, Greece voted not to accept the conditions of a bailout from European Lenders, or the worldwide Monetary Fund – an organisation of 188 countries helping out other countries with financial security.
“But the only way that we’ll succeed in achieving that goal is for all of the parties to agree to a package of reforms and financing that puts Greece back on a path toward economic growth and debt sustainability”, he said.
Jens Weidmann said in a speech Thursday it’s up to eurozone governments and Greek leaders themselves to rescue Greece. “A deal absolutely must be reached on Sunday because it will be too late after that and the consequences will be grave”, he told Europe 1 radio.
With Greek banks down to their last few days of cash and the European Central Bank tightening the noose on their funding, Tsipras tried to convince the bloc’s other 18 leaders, many of whom are exasperated with five years of crisis, to authorise a new loan swiftly.
Europe’s finance ministers are set to discuss Greece’s request during a phone conference today, in order to lay the groundwork for another extraordinary summit of all 28 European leaders on Sunday.
Applause rose from leftist quarters in the EU Parliament when Tsipras said aid to Greece only helped out banks, not ordinary Greeks.
The head of a conservative group in the parliament, Belgium’s Guy Verhofstadt, said he was “furious” at Tsipras’ failure to spell out specifics of his reform plans. Greeks can not take out more than 60 euros ($67) a day from ATMs and are unable to send money overseas, including to pay bills or to stock their businesses, without special permission.
Tsipras said Greece’s troubles predated his arrival in office in January and condemned the “austerity experiment” his country has endured over the past five years that he blames for spiraling unemployment and poverty.
US President Barack Obama has asked the European and Greece leaders to strike a deal on the debt crisis that can benefit the global economy as a whole.
An Athens official said the plan calls for reforms, investment and debt settlement.
Tsipras vowed to continue reforms, but warned of the austerity-weariness of the Greek public.
If history is any teacher, the details of the Greek plan probably don’t matter much.
“Given the situation after the “No” vote in Greece, we need to hear from the Greek government first, how they seek a way out, how they think we can come to an agreement, so I am going to listen to my new Greek colleague first”, Dijsselbloem told reporters on Tuesday before meetings of euro finance ministers and leaders.
“The Commission does not want a Grexit (Greece’s exit from the eurozone)”. Germany, though, has resisted calls for debt relief without reforms.
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The European Central Bank has decided not to increase the amount of emergency credit that Greek banks can draw on, according to sources.
