Greeks Defiant as Clock Ticks Down in Debt Talks

AP Photo
The Associated Press

Greece’s ruling Syriza party dismissed reform demands from the country’s international creditors as “blackmail” on Thursday as crisis talks to avert a debt default and a euro zone exit entered a critical phase.

A parliamentary spokesman for Greek Prime Minister Alexis Tsipras’s left-wing party struck a defiant tone a day after euro zone finance ministers accused Athens of refusing to compromise despite a looming deadline to clinch a deal.

Tsipras was due to resume talks with Greece’s lenders at 9 a.m. (0700 GMT) before the ministers reconvene at 1 p.m. and European leaders begin arriving in Brussels later this afternoon.

Without a cash-for-reform deal in the next 48 hours, the chances of Greece averting a default to the International Monetary Fund (IMF) look slim.

Failure to repay 1.6 billion euros owed to the IMF on Tuesday could trigger a bank run and capital controls, followed by a slide out of the single currency area.

Read more at Reuters

 

.