Greece is ready to make concessions to avoid bankruptcy – The Tribune.fr

Greek Prime Minister Alexis Tsipras on Sunday called on German Chancellor Angela Merkel, French President Francois Hollande and President of the European Commission Jean-Claude Juncker to present new proposals for an agreement able to save Athens from bankruptcy. The institutions representing the international creditors of Greece will meet this Sunday at 15:00 GMT, on the eve of an extraordinary summit of the eurozone, do we learned from diplomatic sources. The meeting will be productive only if the proposal is available in Athens, which was not the case prior to the beginning of the meeting, the sources added

After months of tense negotiations with donors, the Greek government said Sunday ready to make concessions for the release of a new tranche of € 7.2 billion, while the Greeks withdrew their savings en masse banks. With the approach of Monday’s summit, convened to bring these negotiations to an impasse, however it is unclear whether the concessions Alexis Tsipras, elected in January promising to put an end to austerity, will break the deadlock.

Syriza, the far-left party which it came, invited the Greeks to gather Sunday for “send a strong message of resistance” international donors demanding their new sacrifices. The tone also up in Germany, where the Bavarian wing of the CDU Angela Merkel invites to stand firm face in Athens, including the risk of an exit from the euro zone. Greece, short of money, has to repay 1.6 billion euros to the International Monetary Fund (IMF) on June 30 If it fails to conclude before this date an agreement with its creditors “new money against reforms,” ​​it will be insolvent, an unprecedented situation in the euro area which could lead to “Grexit”.

The breakdown of talks last weekend between Athens and its creditors, led to a rush the wickets of Greek banks and capital control measures may be required in the short term in the absence of agreement. Sunday, Alexis Tsipras has called Angela Merkel, Hollande and Jean-Claude Juncker. “The prime minister briefed the three leaders a Greek proposal for a mutually beneficial agreement that will provide a definitive solution without pushing the problem” , say its services in a statement as the government was meeting in Council of Ministers.

If Tsipras’s proposals are not acceptable to his party, he will be forced to call early elections or ask the Greeks to renew their confidence in the context of a referendum. The austerity measures demanded by the International Monetary Fund, the European Union and the European Central Bank have led to a 25% drop in GDP, large cuts in wages and pensions and increased unemployment, which affects an active four. The government has so far opposed further cuts in spending on pensions. According to an elected Syriza, the ideas put forward so far by Jean-Claude Juncker would have resulted in a “social holocaust”. “Democracy can not be violated. The dignity is not market” , the party said in its call to protest Sunday.

All the weekend, European leaders remained in close contact to prepare the extraordinary summit Monday. On a visit to Milan, where he met with Italian Prime Minister Matteo Renzi, Francois Hollande has reiterated the need to “do everything so that Greece can remain in the euro area, in accordance with the commitments that were taken. “