Thursday 7 May 2015

Greece Claims It Will Keep Its Electoral Promises



Syriza wants to have its cake and eat it too. In other words, they are claiming that they will keep their electoral promises not to cut pensions. Frankly, I am really curious how exactly they're planning to do that.
Gabriel Sakellaridis said at a press conference in Athens that labour and pension issues are non negotiable.
"We won't go beyond the limits of our red lines. It's clear that we cannot cut pensions."
Talks with the International Monetary Fund (IMF) and the European Union (EU) will continue over the weekend.
Creditors have demanded cuts in spending, including plans to trim the civil service and privatisation of state assets, in order for Greece to continue receiving loans.
But Greece's ruling left wing Syriza party, led by Alexis Tsipras, was voted in last year on promises to ease up on the highly unpopular austerity measures with increases in the minimum monthly wage and a job creation programme.
Mr Sakellaridis said: "There should not be an expectation on the part of institutions... that the government will back down on everything.
"When you negotiate, there should be mutual concessions."
Some creditors, notably Germany, are losing patience with what they see as Greece's profligacy.
The prospect of a deep schism between Greece and the financial community,particularly the eurozone area, has haunted financial markets for years. 
The president of the European Commission, Jean-Claude Juncker, said it would not be wise to openly discuss a Greek exit from the euro: "If I were to say that "Grexit" [Greek exit from the EU] was an option, what do you think would happen then on the financial markets?"

8 comments:

  1. Very interesting article! I always keep an eye on Greece!

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  2. Greece always be what the market focus on.

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  3. Very important analysis to this political situation.

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  4. I am really curious too.

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  5. Very hard to keep those promises.

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  6. Tightening liquidity rules for Greek banks unless we see progress in the government’s talks with creditors.

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  7. Intersting article, thank you.

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  8. Very important article that we should follow the developments.

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