Greek PM Tsipras: Time for Greece’s Creditors to Honor Their Side of the Bargain With QE in 2017!


Greek Prime Minister Alexis Tsipras appeared optimistic on Friday over debt relief for Greece while he also stressed the need for Greece’s inclusion in the European Central Bank’s (ECB) Quantitative Easing (QE) program. He made his statement a day after his meeting with EP President Martin Schulz who did not bow to the Greek leader’s calls for relief that would make Greece’s debt more sustainable now that the country is meeting its obligations. His reference to creditors fulfilling their May 2016 Eurogroup decision, however, was left unanswered.

On the sidelines of the EU Council in Brussels, Tsipras said debt relief would send a clear message to investors as would Greece entering the QE program. He said he hoped for a positive development such as Greece entering the QE program in early 2017 to show those interested in investing in Greece that the country had moved beyond the crisis and uncertainty.

Despite a tax tsunami with hikes across-the-board and pension cuts, Greece’s creditors have not budged to meet Greece half way as had been hoped. Now, the embattled Tsipras government has to handle the political fallout without those involved in the bailout program keeping their end of the bargain.