Greek Prime Minister Alexis Tsipras reaffirmed his government’s rejection of Greece’s international bailout program before Wednesday’s emergency meeting of the euro area’s finance ministers to discuss the country’s financing needs.
“We need an honest negotiation with our partners that does not condemn the Greek economy and society to unending recession,” Tsipras, 40, said in an address to parliament on Sunday, marking the start of a three-day debate on his government’s policy platform.
The leader of the nation’s anti-bailout governing coalition vowed to increase the minimum wage, restore the income tax-free threshold, halt infrastructure privatizations, and ask for World War II reparations from Germany, in a speech that sets him on a collision course with the country’s creditors.
Photo: AFP
“It is the irrevocable decision of our government to honor the mandate of the Greek people and negotiate an end to the European Union’s austerity,” Tsipras said.
Greek markets fell in response yesterday, with the Athens Stock Exchange dropping 4.2 percent in early morning trading.
Tsipras came close to tears at one point during his speech on Sunday evening.
“Tsipras’s tone was defiant and highly emotional, striking pronounced nationalist notes, from an emphasis on national dignity to his announcement that he will be seeking WWII reparations from Germany,” Yale University political science professor Stathis Kalyvas said.
“Perhaps, his emphasis on nationalism and symbolic issues was calculated to help him negotiate concessions on economic, material issues with the eurogroup this coming week,” Kalyvas said in an e-mail after the speech.
Tsipras is seeking to keep Greece financially afloat while breaking free from the shackles of its international bailout program, which expires at the end of this month.
He said he aims to reach an agreement within 15 days on “bridge program,” which will ensure the country’s financing until June, amid doubts about Greece’s ability to pay its bills as of the end of this month.
“We aim to work with our partners in Europe to achieve these goals,” he said.
Greece’s public debt stands at more than 320 billion euros (US$362 billion), making it Europe’s most-indebted state when measured against output.
“Greece wants to service its debt, which is now over 180 percent of GDP. It’s impossible to service as long as our partners insist on austerity,” Tsipras said.
The next showdown with Greece’s EU partners is scheduled tomorrow in Brussels, when Greek Minister of Finance Yanis Varoufakis faces his 18 euro-area counterparts in the emergency meeting.
In a lengthy list of policy actions, Tsipras said Sunday evening the government plans to restore the tax-free threshold for individual workers to 12,000 euros a year and gradually raise the minimum wage to 751 euros a month through next year. Both measures would reverse changes made by previous governments.
He said he is committed to maintaining balanced budgets, and that he is willing to negotiate terms that will make Greece’s debt sustainable.
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