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Eurozone to Greece: Either a deal, or go bust

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Paris: After Greece failed to propose a fresh debt deal on Tuesday, the eurozone gave it until Thursday to present new proposals to secure a deal with creditors, media reported on Wednesday.

On Sunday, a meeting of all 28 members of the European Union (EU) will be held – a day after the new Greek proposals are expected to be discussed by the eurozone finance ministers.

The Greek crisis came up for debate in the European Parliament in Strasbourg, France, on Wednesday. European Council President Donald Tusk told members of the European Parliament that there were only “four days left” to reach a final agreement, BBC reported.

Amid boos and cheers, Greek Prime Minister Alexis Tsipras addressed the European parliament, saying the Greek people “stood up and were counted – we have to listen to what they said”.

Tsipras said detailed proposals were being drawn up to bring about an agreement with Greece’s partners on resolving the debt crisis.

In Brussels on Tuesday, Greece was given an ultimatum that either there would be a deal or Greece and its banks would face the prospect of going bust on Monday (July 13).

EU Economy Commissioner Pierre Moscovici said Europe wanted to stop Greece falling out of the eurozone.

“The Commission does not want a Grexit (Greece’s exit from the eurozone). Grexit would be a terrible failure and we are fighting to avoid it,” Moscovici said.

Earlier, EU President Jean-Claude Juncker said Grexit could not be ruled out but he did not want Greece to leave the eurozone.

“We have a humanitarian plan, if needed,” he added.

(IANS)

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Greeks vote in second general election

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thebalticbriefing.com

Athens: On Sunday, Greeks voted in the second general election this year to elect a new government that will implement the three year bailout agreed in the summer with international creditors.

About 9.8 million citizens of 18 years and above were registered to vote in 19,457 polling stations nationwide. The number of new voters is 108,464.

The two front-runners are former prime minister and leader of the radical-left SYRIZA party Alexis Tsipras and Evangelos Meimarakis of the conservative New Democracy party.

Alexis_Tsipras

Tsipras asked weary Greek voters to deliver a “fighting government” capable of “moving forward with difficult reforms” as he cast his ballot in the country’s closely-fought election, the fifth in six years.

“The Greek people will take their future into their own hands… and seal the transition to a new era,” Tsipras said in the working-class Athens district Kypseli. “I’m confident.”

Meimarakis after casting his ballot: “I believe we will have a better future for all Greeks regardless of which party they vote for.

“I hope the result will vindicate Greek people’s sacrifices,” President Prokopis Pavlopoulos said.

Stavros Theodorakis, head of the centrist small Potami party, and Fofi Gennimata, leader of the PASOK socialist party, stressed the need for consensus after the elections.

(IANS)

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