Greek premier screams ‘blackmail’
Print Edition
GREEK Prime Minister Alexis Tsipras accused international creditors of “blackmail” yesterday after eurozone partners offered to release billions in frozen aid in a last-minute push to win his acceptance of a cash-for-reform deal.
German Chancellor Angela Merkel and French President Francois Hollande met Tsipras on the sidelines of a European Union summit to coax him to accept an offer to fill Athens’ empty coffers until November in return for painful pension and tax reforms.
If Greece does not clinch an agreement at the weekend to unlock funds, it is set to default on an International Monetary Fund loan on Tuesday, possibly sparking a bank run, capital controls and raising doubts about its future in the eurozone.
But Tsipras sounded defiant on leaving the summit, telling reporters Greece would fight for the European principles of democracy, solidarity, equality and mutual respect.
“These principles were not based on blackmail and ultimatums,” he said in English. However, he did not rule out accepting a deal and officials said intensive behind-the-scenes contacts were continuing to seek a last-minute compromise.
European Council President Donald Tusk retorted: “It is not political blackmail when we repeat day after day that we are very close to this day (June 30) when the game is over.”
Tsipras was due to fly back to Athens to confer with his cabinet and his ruling Syriza party on the next steps.
Merkel said she and Hollande had urged him in a 45-minute private meeting to accept the creditors’ “generous” offer.
“We have taken a step towards Greece,” she said. “Now it is up to the Greek side to take a similar step.”
Both she and Hollande said today’s meeting of eurozone finance ministers would be the decisive moment for a deal since time was running out to secure German parliamentary approval in time to release funds needed to avert a Greek default.
The creditors laid out terms in a document handed to Greece on Thursday. It said Athens could have 15.5 billion euros (US$17.3 billion) in EU and IMF funding in four instalments to see it through to the end of November, including 1.8 billion euros by Tuesday as soon as the Greek parliament approved the plan.
A French official said Merkel and Hollande also discussed with Tsipras outstanding differences on reforms creditors want Greece to accept — centered on pension reform, labor law and increasing value added tax — as well as an extension to Athens’ bailout program and financing.
European Commission President Jean-Claude Juncker said there was no ultimatum to Greece and he was “quite optimistic but not overly optimistic” there would be a deal.
The Eurogroup ministers will meet today and Greece will be asked if it accepts a revised offer from the commission, the European Central Bank and the IMF, a eurozone official said.
If Greece refuses, the ministers will move on to discussing a “Plan B” on preparing to limit the damage from a Greek default to Greek banks and other eurozone countries and markets, the official said.
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