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Greek PM says EU bailout deal ‘in sight’

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Greek prime minister Alexis Tsipras is confident the embattled state will be able to secure a new deal on its debts to EU lenders, according to reports.

Tsipras spent more than four hours negotiating with EU commission president Jean-Claude Juncker, as well as Eurogroup president Jeroen Dijsselbloem, yesterday, and claimed an agreement was “within sight”.

The BBC reports Tsipras claimed Greece and its creditors are “very close to an agreement over primary surpluses” which he said would mean going forward “without the tough austerity measures of the past”.

However, he added: “There are points that no-one would consider as a base for discussion. The talks will continue in the coming days.”

In a statement, the European Commission describes the meeting in Brussels as “constructive”.

“Progress was made in understanding each other’s positions on the basis of various proposals. It was agreed that they will meet again. Intense work will continue,” the Commission says.

Greece secured a temporary extension on its European debts in February, but is due to repay $335m as the first of four payments on IMF loans later this month.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Julian Stevens 4th June 2015 at 9:58 am

    What Greece seems to want are ever more injections of capital but without conditions such as the implementation of strict austerity measures. Yet isn’t that exactly what the EU has said it won’t provide? It seems to have become a game of brinkmanship, with Greece saying that if it doesn’t get more money on its own terms, it’ll simply go under, with all the shockwaves that’ll create for the EU, for which it [the EU] doesn’t have the stomach. And so the farce rumbles on.

  2. What about the shockwaves for Greece, going back to the Drachma?.

  3. Julian Stevens 4th June 2015 at 2:42 pm

    What about them?

  4. Some transactions, such as Oil are priced in Dollars.

    Also, they could start with the Drachma having parity with the Euro. However, how long it would remain at parity, and how far it would need to devalue has not been openly considered.

    However, Grexit would require immediate consideration of these issues.

    IMO, if Greece believes that austerity would end once they move to the Drachma, they could be mistaken.

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