Greece says no to bailout extension, pledges to honour debts

A defiant Prime Minister Alexis Tsipras on Sunday said he would be “unshakeable” in carrying out the new Greek government’s anti-austerity agenda as he called for temporary EU funding to help stave off a default. “Greece wants to service its debt,” Tsipras told parliament in a keynote speech on the government’s economic policy. Sunday’s speech comes ahead of a critical meeting with eurozone finance ministers this week when Athens will push for a new debt deal with international creditors, amid mounting fears that Greece could default on its loans and exit the eurozone.

It is a crisis and I don’t see it being resolved easily, in fact I don’t see it being resolved without Greece leaving the eurozone.

Former Head of the US Federal Reserve, Alan Greenspan

The European portion of the bailout is due to expire at the end of the month, putting Athens under pressure to do a quick deal. Hanging in the balance for Greece is the final 1.8 billion euro loan instalment from the eurozone, but the Syriza government objects to the austerity measures at the heart of current bailout and says it would prefer to refuse the cash and start from scratch with a new deal.

Europe Greece