Greek Prime Minister Alexis Tsipras spoke with reserved optimism after coming out of the emergency Eurozone summit on the Greek debt in Brussels a little after midnight on Monday.
“We presented our proposal to the institutions, a proposal that includes equivalent measures to the ones suggested and with social justice as the main criterion. For the first time, the tax burden will not be carried by public sector employees and pensioners. We will protect pensioners and middle-income families, and for the first time the tax burden will be carried by those who can afford to carry it,” Tsipras said to the press.
“Our proposal was accepted by the institutions as a basis for an agreement. A few more days are needed for a comprehensive and sustainable solution that will be accompanied by a development package that will make the Greek economy viable. Our aim is to ensure the country’s financing needs for the immediate future. Our criteria are social justice, economic sustainability and a sustainable debt. Now the ball is in the court of the European leadership,” the Greek prime minister concluded.
The package of measures proposed is estimated to bring 8 billion euros in state revenues for the next 18 months. The Greek negotiating team and lenders’ representatives have 48 hours to iron out technicalities on a staff level agreement that is ready to be taken to the next Eurogroup to be held on Wednesday or Thursday. If there is an agreement at the Eurogroup, the measures must be voted on immediately in Greek parliament.
“The new Greek proposal is a positive step,” said European Council President Donald Tusk. “Mr. Tsipras assured that Greece has the willingness to cooperate,” he added.
European Commission President Jean-Claude Juncker said that despite the delay, “the proposals presented is a great step forward.” The EC president also denied any rumors of imposition of capital controls by Greece’s European partners.
“I am optimistic that in Wednesday’s Eurogroup there will be developments to be tabled in Thursday’s summit,” Juncker said.
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