After late-night talks in Berlin with global leaders, Greek Prime Minister Alexis Tsipras says that Greece has reached a “realistic” solution to the debt crisis ahead of Friday’s impending deadline.
Instead of waiting for a solution from European officials, Tsipras says that he is forging ahead with his own plan.
“We are not waiting for them to submit a proposal, Greece is submitting a plan — it is now clear that the decision on whether they want to adjust to realism… the decision rests with the political leadership of Europe,” he told media.
Some analysts fear that Greece will be unable to afford necessary payments on its debt this Friday, and will default, causing a chain reaction which could spell economic doom for Europe and the world.
The southern European nation owes the International Monetary Fund about 300 million euros by Friday.
Germany in particular wants to prevent a Greek default, in order to maintain the integrity of the euro. If Greece defaults on Friday, the euro may be sent spinning into chaos in the wake of tough decisions the Hellenic Parliament would have to make.
At the heart of the debt crisis is Greece’s extensive social safety net. Earlier this year, Tsipras’ party, Syriza, implemented an anti-austerity program, aimed at preserving the Greek welfare state in the wake of economic upheaval.
The Europeans, who are considering a massive bailout, believe that Syriza is being economically irresponsible, and that they need to hold back on some of their ambitions if they are to receive the 7.2 billion euros left in bailout funds.
Tsipras claims that his proposed exit from the crisis contains concessions which will be painful for the Greek people.
The Greek Labor Minister, Panos Skourletis, also weighed in on the crisis, saying: “There is no more room for compromises.”
Syriza’s parliamentary speaker, Nikos Filis, reiterated this hardline position in an interview with Antenna TV. Asked if Athens would accept an ultimatum which would roll back elements of Syriza’s anti-austerity program, he responded by dismissing even a slight possibility.
“If we’re talking about an ultimatum… which is not within the framework of the popular mandate, it is obvious that the government cannot co-sign and accept it,” he said.
However, there is talk of a hard-left split in Syriza, suggesting Athens may not be as unified as Tsipras would like. Elements of Syriza have objected to any potential compromises on the anti-austerity program the Greeks may have to make, and may not support even Tsipras’ solutions.