Euro zone leaders told near-bankrupt Greece at an emergency summit on Sunday it must enact key reforms this week to restore trust before they will open talks on a financial rescue to keep it in the European currency area.
Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament to convince his 18 partners in the euro zone to release immediate funds to avert a state bankruptcy and start negotiations on a third bailout program estimated at up to 86 billion euros ($95.5 billion).
Six sweeping measures including tax and pension reforms must be enacted by Wednesday night and the entire package endorsed by parliament before talks can start, a draft decision by Eurogroup finance ministers sent to the leaders showed.
The document included a German proposal to make Greece take a "time-out" from the euro zone if it fails to meet the conditions. But not all ministers endorsed the idea, which a senior EU source said was illegal and would not survive in the summit statement.
Tsipras said on arrival in Brussels he wanted "another honest compromise" to keep Europe united.
But German Chancellor Angela Merkel, whose country is the biggest contributor to euro zone bailouts, said the conditions were not yet right to start negotiations, sounding cautious in deference to mounting opposition at home to more aid for Greece.
"The most important currency has been lost and that is trust," she told reporters. "That means that we will have tough discussions and there will be no agreement at any price."
In my recommendation both euro zone and Greece must compromise on few issues to revamp Greece economy because Greece is a thick partner friend in all these centuries.
Now due to single or few personalities do mistakes in Greece must not Harm the nation Further. so this is a must to Her Highness German Chancellor Angela Merkel to support and negotiate further to make the Greek government and people in total to understand the crisis situation on it is a matter of concern to revival of Greek Country and not to be stringent by any Individual for Name or fame but for the people a quick solution is a must is the need of this time.
The ancient Nation with VAST cultural Heritage must not be allowed to continue in struggle is a must on Humanitarian grounds by Euro zone is a Need of this HOUR. THANKS. SAVE GREEK PEOPLE AS A PART OF PEOPLE OF OUR HUMAN WORLD.
regards.
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