Greek Prime Minister Alexis Tsipras is due to urgently travel to Brussels on Wednesday where he will be presented with a new proposal to solve Greece’s debt crisis.
Greece’s international creditors — the European Central Bank (ECB), the European Commission and the International Monetary Fund (IMF) — have prepared a new bailout plan with detailed reform proposals, while the Greek Prime Minister will present the government’s own 47-page draft deal.
European Commission President Jean-Claude Juncker invited Tsipras to Brussels in order to present him with the new plan. The Greek Prime Minister will ask for a political negotiation in order to overcome differences between the two sides. Tsipras will be accompanied by State Minister Nikos Pappas, government spokesman Gavriil Sakellaridis and Alternate Foreign Minister for International Economic Relations Euclid Tsakalotos.
Details of the creditors’ draft deal have not been publicized, but a senior European Union official told Reuters that it covers “all key policy areas and reflects the discussions of recent weeks.”
The creditors’ plan comes at a critical time when Athens struggles to make a 300-million-euro loan repayment installment to the IMF due on June 5 and another 1.2 billion euros until the end of the month. Greece has the option to repay the total amount due at the end of the month but it will have to notify the IMF beforehand. So far the Greek government has not done so and it is assumed that it will make the first repayment on Friday.
Tsipras said on Tuesday that Greece’s proposal includes painful concessions but it is a realistic plan that will help the country exit the economic crisis.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
