Executive Intelligence Review
Subscribe to EIR

PRESS RELEASE


Greek Prime Minister Tsipras Says EU Walking Over a Cliff

Aug. 28, 2016 (EIRNS)—Greek Prime Minister Alexis Tsipras said today that Greece expects debt relief by the end of this year, so that its economy can recover.

As reported by Reuters, Tsipras said,

"Greece has kept its part of the agreement and expects the same from its partners. We are not simply seeking, we are demanding and expecting specific measures that will render debt sustainable as part of the deal we are implementing.

"This [debt relief] will be followed by reduced [budget] surpluses after 2018, which will open the way for the economy’s recovery."

His remarks initially appeared in an interview on Sunday with the local Athens daily, Real News.

Tsipras also told Real News that the European Union was "sleepwalking towards a cliff," since the Stability Pact’s austere fiscal rules have created deep inequalities among member states.

If German Finance Minister Wolfgang Schäuble’s

"dogma for a multi-speed Europe and economic zones of low-cost labor is not abandoned, Europe will be brought to the brink of dissolution,"

Tsipras was quoted by Real News.

Officially, the economy of Greece has shrunk by a quarter in six years, and the official jobless rate is 23.5% said Reuters.