Alexis Tsipras claims creditors are making Greek crisis worse

All roads still lead to Berlin, the powerhouse of Europe, which is now economically dominating the continent. Cypress was yesterday’s target, today it’s still Greece.


Prime minister hits out about delay in deal to resolve debt crisis when there is ‘light at the end of the tunnel’

Speaking at the Thessaloniki annual trade fair, where Greek leaders traditionally outline economic policy, Tsipras blamed a spat between the EU and the International Monetary Fund for putting off badly needed private investors.

“I would say that what is creating conditions of delay in regaining trust of markets and investors is the constant clash and disagreements between the IMF and European institutions,” he told reporters in a traditional no-holds-barred exchange.

The dispute has also held up the nation’s participation in the European Central Bank’s quantitative easing programme, which is vital to the restoration of confidence and a faster return to growth. “A country which has made such harsh adjustment cannot wait much more,” he said of the six years of gruelling austerity enforced as the price of rescue from bankruptcy. “It is entitled to fair regulation of the debt issue.”

Saving his biggest criticism for Germany – the largest provider of more than €300bn (£254bn) in emergency funds Greece has received since May 2010 – Tsipras said resolving Athens’ unmanageable debt pile was not a bilateral issue but was of international consequence. Germany, which is holding national elections next year, has ruled out addressing the issue in the near future.

Tsipras said: “The problem has an international dimension because a solution to this problem will play a decisive role in the development of the European economy which, in turn, determines the international economy.” At €380bn, the equivalent of 180% of GDP, Greece has the highest debt load in the 19-bloc eurozone.

Full article: Alexis Tsipras claims creditors are making Greek crisis worse (The Guardian)

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