Alexis Tsipras to face take-it-or-leave-it ultimatum from lenders over debt offer

The Greek prime minister, Alexis Tsipras, will be presented with what is expected to be a take-it-or-leave-it plan on Wednesday after five months of drama-filled negotiations to keep his debt-stricken country afloat.

The radical left leader is to be given the ultimatum after lenders at the EU, European Central Bank (ECB) and International Monetary Fund (IMF) agreed on the contours of a cash-for-reform deal late on Tuesday.

The agreement, reached after emergency talks in Berlin on Monday, would unlock €7.2bn (£5.2bn) in rescue loans for the cash-strapped country but demand tough economic changes in return.

“It covers all key policy areas and reflects the discussions of recent weeks,” a senior EU official said on Tuesday. “It will be discussed with Tsipras tomorrow.”

Greece’s anti-austerity leader was scheduled to fly to Brussels at the request of the EU commission president, Jean-Claude Juncker, a Greek government official said. “The prime minister will be in Brussels tomorrow with the Greek proposal in his luggage,” said the official on Tuesday night, suggesting the bargaining was far from over for Tsipras’s government.

Both the German chancellor, Angela Merkel, and the French president, François Hollande, were also expected to put the blueprint to Tsipras in a bid to win his acceptance by Friday when Greece must pay the first in a series of loan instalments [sic] to the IMF.

But whether Athens will accept the offer remains in doubt. Taking a defiant stance earlier on Tuesday, Tsipras said: “We have submitted a realistic plan for Greece to exit the crisis. A realistic plan, whose acceptance by the institutions, our lenders and our partners in Europe will mark the end of the scenario of divisions in Europe.”

Full article: Alexis Tsipras to face take-it-or-leave-it ultimatum from lenders over debt offer (GAEB)

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