Friday 23 August 2019

Tsipras makes new bailout concessions

Greek Prime Minister Alexis Tsipras
Greek Prime Minister Alexis Tsipras

Lefteris Papadimas

Greek Prime Minister Alexis Tsipras has promised a series of 11th-hour concessions and reforms in a bid to break a deadlock that has pushed his country to the brink of bankruptcy.

As the prospect of Greece exiting the euro and the EU draws closer, Taoiseach Enda Kenny will attend the latest crisis EU meeting in Brussels today.

After months of wrangling and with anxious depositors pulling billions of euro out of Greek banks, Mr Tsipras's leftist government is now showing a new willingness to make concessions that would unlock frozen aid to avert default.

Greece has submitted new proposals, but it is not clear how far the measures go to meet creditors' demands for additional cuts and tax hikes.

Greek officials have suggested Athens may be willing to consider raising value-added taxes or other levies.

Greece urgently needs access to funds to avoid defaulting on a €1.6bn IMF loan this month.

Irish Independent

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