Greek PM Tsipras Returns To Athens And Mulls Over Final Bailout Proposal As Debt Deadline Nears

SYRIZAGreek Prime Minister Alexis Tsipras returned to Athens after meeting yesterday with European Commission President Jean-Claude Juncker and Dutch Finance Minister Jeroen Dijsselbloem, President of the Eurogroup, for a round of talks over their own debt bailout proposals that fell short of reaching an agreement.

Today Tsipras will be meeting with government officials within his own anti-austerity Syriza Party to review the proposal on the table and make a final appeal for a debt agreement between Greece and their creditors, despite some differences remaining over red lines that Athens has made concerning pension cuts and increases with value added tax (VAT).

According to Greek newspaper  Kathimerini, Greek Prime Minister Tsipras will likely hold last minute talks on Friday with  European Commission President Jean-Claude Juncker and Greece’s creditors, the same day a 300 million payment is due to the IMF.

Since Greece has no access to capital markets, the cash-strapped country is left with few alternatives except for turning to its creditors and settling on a new bailout agreement to unlock €7.2 billion and allow the country to make payments to the IMF totaling €1.6 billion that are due in June when Greece’s temporary bailout extension expires.

-Johnathan Schweitzer

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