Arab Today, arab today greece rejigs reforms as clock ticks on loan deal
Last Updated : GMT 04:50:24
Arab Today, arab today
Arab Today, arab today

Greece rejigs reforms as clock ticks on loan deal

Arab Today, arab today

Arab Today, arab today Greece rejigs reforms as clock ticks on loan deal

Greek Prime Minister Alexis Tsipras
Athens - AFP

Greece raced Sunday to finalise reform proposals that would keep its loan lifeline open under an EU debt deal that saw its anti-austerity ambitions curtailed.
European finance ministers on Friday gave Athens until Monday to present proposals that would convince its creditors to grant a four-month extension of its debt bailout.
A top government official on Sunday said Athens would submit proposals that will take the struggling Greek economy "out of sedation."
"We are compiling a list of measures to make the Greek civil service more effective and to combat tax evasion," minister of state Nikos Pappas told Mega channel.
The four-month extension is designed to enable Greece and its creditors to negotiate a new reform deal acceptable to both sides.
Greece's hard-left Syriza government is walking a tightrope between its commitments to European creditors and its electoral pledges to end austerity in a country struggling to recover from severe economic crisis.
The extent of the challenge became clear Sunday when one of Syriza's most respected members, 92-year-old wartime resistance hero Manolis Glezos, blasted the concessions made by the government.
"Calling a spade by another name does not change the situation," Glezos, who is a Syriza member of the European Parliament, wrote in a blog entry.
"I wish to apologise to the Greek people for taking part in this illusion," he said, calling on Syriza supporters to "react before it's too late."
"There can be no compromise... between a slave and a conqueror, the only solution is freedom," Glezos said.
Pappas, a close aide of Prime Minister Alexis Tsipras, said the talks would be "a daily battle... every centimetre of ground must be won with effort."
While many said Athens had capitulated to European demands in the deal on the four-month extension, Tsipras insisted Saturday Greece had achieved an "important negotiating success" which "cancels out austerity."
In a televised address, Tsipras said his government had foiled a plan by "blind conservative forces" in Greece and abroad to bankrupt the country at the end of the month, when its European bailout had been scheduled to expire.
But while fears of a disastrous Greek exit from the eurozone receded, the 40-year-old premier warned that the "real difficulties" lie ahead. He said his government would now focus on negotiating a new reform blueprint with Greece's creditors by June.
- 'A four-month truce' -
The government which came to power last month pledging to end deeply unpopular austerity measures and renegotiate Greece's huge debt had asked for a six-month loan assistance until it can submit its four-year reform plans.
Instead, it received less time and no new money to tide it over in the meantime.
Still, Greek officials on Sunday insisted that the government would apply its radical agenda within the framework provided by Europe.
"This is a four-month truce that gives us time and a breath of air," junior administrative reform minister Giorgos Katrougalos told Skai TV.
He added that Athens intended to meet its fiscal requirements "by making the rich pay."
Pappas said the government still intended to hire up to 11,500 civil servants this year and spend up to 400 million euros ($455 million) on immediate poverty relief.
French President Francois Hollande tried to sweeten the pill for Greeks, calling it a "good compromise" that gives Athens time to finalise its reform plans.
But the government's domestic rivals were less generous.
"If this is 'successful negotiation', what would count as a fiasco?" asked conservative former prime minister Antonis Samaras.
Athens said it had averted threatened cuts to pensions and tax hikes, and had persuaded its European creditors to drop unrealistic budget demands.
- Hard-fought deal -
To win the hard-fought deal, Athens pledged to refrain from one-sided measures that could compromise fiscal targets, and had to abandon plans to use some 11 billion euros in leftover European bank support funds to help restart the Greek economy.
On Tuesday, Greece's creditors will decide whether to proceed with Friday's agreement, with the chance that the compromise could be scrapped if they are not satisfied.
Two previous rounds of talks ended in acrimony with Greece accusing Germany and other hardline EU member states of sabotaging a deal.
If Athens sticks to its commitments, it stands to receive up to 7.2 billion euros in funds still left in its 240 billion euro bailout ($273 million) from the EU and the International Monetary Fund.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greece rejigs reforms as clock ticks on loan deal Arab Today, arab today greece rejigs reforms as clock ticks on loan deal

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday