Latest News from Greece

Greek Govt Vice President: We Will Not Cross Our Red Lines in Negotiations

The Greek government’s intention not to cross the red lines it has set in regards to the ongoing negotiations with the country’s partners expressed, yet again, yesterday government Vice President Giannis Dragasakis. In an interview to Greek newspaper “To Vima,” published on Sunday, the Dragasakis said the government will stand firm to its red lines, despite the increased fears that the country could soon be driven to a default.

As Dragasakis said, “there is no way we would cross red lines that we have set,” while refusing to rule out the possibility of new elections or a referendum in case the talks between Athens and its international creditors reach a dead-end. He said that such an option is still “in the back of our minds… in the event of an impasse.”

The so-called “institutions,” formerly known as the “Troika” (the European Commission, the European Central Bank and the International Monetary Fund), are currently awaiting the Greek government to submit a revised and complete reforms list in order to unlock an additional 7.2-billion-euro assistance, part of the country’s bailout program, worth 240 billion euros in total. The two sides have expressed their intention to reach an agreement ahead of the April 24 Eurogroup in Riga, Latvia, although such a development is seen as highly unlikely and this has repeatedly been underlined by numerous European officials, who are pushing Greece to complete its reforms proposal on time. European Central Bank (ECB) President Mario Draghi and International Monetary Fund (IMF) Managing Director Christine Lagarde said on Saturday that Greece has so far failed to provide enough information on how its planned reforms would impact its finances. “More work, much more work is needed now, and it is urgent,” Draghi stressed.