Date
16 August 2017
Greece’s Prime Minister Alexis Tsipras addresses a news conference after attending a EU leaders summit in Brussels on Thursday. Photo: Reuters
Greece’s Prime Minister Alexis Tsipras addresses a news conference after attending a EU leaders summit in Brussels on Thursday. Photo: Reuters

Greece agrees to talk to creditors amid EU pressure

Greece agreed on Thursday to talk to its creditors about the way out of its international bailout, marking a climbdown by the nation’s new leftist-led government, Reuters reported.

Prime Minister Alexis Tsipras, attending his first European Union summit, agreed that Greek officials would meet representatives of the European Commission, the European Central Bank and the IMF on Friday, it said.

The shift by Tsipras marked a potential first step towards resolving a crisis that has raised the risk of Greece being forced to abandon the euro, which could spark wider financial turmoil, the report noted.

An official in Athens was quoted as saying that it was a positive move towards a new financial arrangement with creditors.

It came less than 24 hours after euro zone finance ministers failed to agree on a statement on the next procedural steps because Athens did not want any reference to the unpopular bailout or the “troika” of lenders enforcing it.

Tsipras won election last month promising to scrap the 240 billion euro bailout, end cooperation with the troika, reverse austerity measures and negotiate a reduction in the debt burden.

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RC

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