4 Jun 2015
Greece officially rejects EU proposal, Varoufakis asks for 'Speech of Hope'
FXStreet (Córdoba) - Greece has officially rejected European Union proposals and according to Finance Minister Yanis Varoufakis, the Greek government is presenting a new set of proposals for deep reforms, debt management, and an investment plan to kick-start the economy.
While the indebted country struggles to unlock bailout funds to meet its commitments, they rejected latest EU proposal for being unacceptable and unrealistic.
Today the IMF announced Greece will miss its €300 million payment due tomorrow and required to bundle up June payments to repay €1.5 billion at the end of the month.
Varoufakis asked for a “Speech of Hope” from Angela Merkel while assuring "Greece is indeed ready and willing to enter into a compact with Europe that will eliminate the deformities that caused it to be the first domino to fall in 2010".
“Greater austerity is being demanded from an economy that is on its knees, owing to the heftiest dose of austerity any country has ever had to endure in peacetime. No offer of debt relief. No plan for boosting investment. And certainly, as of yet, no ‘Speech of Hope’ for this fallen people”, said Varoufakis on Thursday.
According to an EU official, Greek PM Tsipras will not attend discussions in Brussels tomorrow and added that the bundling of IMF repayments is not encouraging.
While the indebted country struggles to unlock bailout funds to meet its commitments, they rejected latest EU proposal for being unacceptable and unrealistic.
Today the IMF announced Greece will miss its €300 million payment due tomorrow and required to bundle up June payments to repay €1.5 billion at the end of the month.
Varoufakis asked for a “Speech of Hope” from Angela Merkel while assuring "Greece is indeed ready and willing to enter into a compact with Europe that will eliminate the deformities that caused it to be the first domino to fall in 2010".
“Greater austerity is being demanded from an economy that is on its knees, owing to the heftiest dose of austerity any country has ever had to endure in peacetime. No offer of debt relief. No plan for boosting investment. And certainly, as of yet, no ‘Speech of Hope’ for this fallen people”, said Varoufakis on Thursday.
According to an EU official, Greek PM Tsipras will not attend discussions in Brussels tomorrow and added that the bundling of IMF repayments is not encouraging.