Back
30 Mar 2015
Greece debt drama: Monday could be make-or-break day
FXStreet (Bali) - Greece has submitted the latest updated reforms list - 18 in total, ahead of April 9th deadline, when Greece is due to pay €450m to the IMF.
After submitting its last round of what Greece calls 'non-austerity' measures, the Greeks appear to have draw a line in the sand, and looks like Monday could be a make-or-break day, as the debt-stricken country threatened to stop repaying its obligations to creditors should reforms not be accepted, according to a Greek government official.
“The list is close to be finalized and we are ready to debate with our creditors. It is detailed and has numbers. But the reforms are of non-austerity nature and will prove that Greece can return to growth and primary surpluses without harming society" the official was quoted in MNI.
Euclid Tsakalotos, Chief Economics Spokesman of the Government of Greece, said the country has the willingness to negotiate but may be considering other options depending on the outcomes from coming days. "We are working in the spirit of compromise, we want a solution, but if things don't go well you have to bear the bad scenario in mind as well. That is the nature of negotiations," Tsakalotos told the Guardian.
"The government is not going to continue servicing public debt with its own funds if lenders do not immediately proceed with the disbursement of funds which have been put on hold since 2014," said government aides.
After submitting its last round of what Greece calls 'non-austerity' measures, the Greeks appear to have draw a line in the sand, and looks like Monday could be a make-or-break day, as the debt-stricken country threatened to stop repaying its obligations to creditors should reforms not be accepted, according to a Greek government official.
“The list is close to be finalized and we are ready to debate with our creditors. It is detailed and has numbers. But the reforms are of non-austerity nature and will prove that Greece can return to growth and primary surpluses without harming society" the official was quoted in MNI.
Euclid Tsakalotos, Chief Economics Spokesman of the Government of Greece, said the country has the willingness to negotiate but may be considering other options depending on the outcomes from coming days. "We are working in the spirit of compromise, we want a solution, but if things don't go well you have to bear the bad scenario in mind as well. That is the nature of negotiations," Tsakalotos told the Guardian.
"The government is not going to continue servicing public debt with its own funds if lenders do not immediately proceed with the disbursement of funds which have been put on hold since 2014," said government aides.