Greece’s defiant Prime Minister has told Angela Merkel it is Europe’s job to do “their part” to keep his crisis-hit country in the eurozone.
Meeting on the sidelines of a European Council meeting in Brussels on Thursday, Alexis Tsipras is reported to have told the German Chancellor his debt-addled nation has made enough sacrifices to satisfy the demands of its creditor powers.
The country is widely expected to slip back into recession in 2015 as economic confidence has been decimated by its prolonged bail-out stalemate.
In the absence of any fresh injection of creditor cash, the Leftist government has been forced to resort to desperate measures to raid the coffers of its local authorities and pension funds.
“The Greek government is really scraping the bottom of the financial barrel,” said Christel Aranda-Hassel, chief analyst at Credit Suisse, who estimates the country will run out of funds in the next few weeks.
Athens has sought to appeal to Ms Merkel, seen as their sole ally in Europe, to push creditors for a resolution before Greece is due to make a €950m loan repayment to the International Monetary Fund in the first two weeks of May.
“Ms Merkel is their last hope; she sees there is more to Greece and Grexit than just the monetary union, there are geopolitical risks at stake,” said Carsten Brzeski, chief economist at ING.
Full article: Tsipras tells Merkel ‘Greece has made enough sacrifices for the euro’ (The Telegraph)