Greece ready to turn down 'unfair' deal

(AGI) - Rome, June 17 - On the eve of Thursday's Eurogroupmeeting, the future of Greece in the eurozone is lookingincreasingly grim. The statements made by the involved partiesindicate an unwillingness to make further compromises. GreekPrime Minister Alexis Tsipras said he is ready to assumeresponsibility for the consequences of rejecting an 'unfair'deal with creditors. He made it clear that pensions will not becut. With a viable solution, Tsipras said the Greek government"will bear the cost of carrying through." Without one, "we willassume the responsibility to say 'the great no' to a

(AGI) - Rome, June 17 - On the eve of Thursday's Eurogroupmeeting, the future of Greece in the eurozone is lookingincreasingly grim. The statements made by the involved partiesindicate an unwillingness to make further compromises. GreekPrime Minister Alexis Tsipras said he is ready to assumeresponsibility for the consequences of rejecting an 'unfair'deal with creditors. He made it clear that pensions will not becut. With a viable solution, Tsipras said the Greek government"will bear the cost of carrying through." Without one, "we willassume the responsibility to say 'the great no' to acontinuation of the catastrophic policies." The premier spokethese harsh words as the Bank of Greece warned that failure toreach an accord would "mark the beginning of a painful coursethat would lead to the country's exit from the eurozone." Thebank also said that the country could slide into anotherrecession and that the economic slowdown will be higher in thesecond quarter. German Finance Minister Wolfgang Schaeublesaid there was little hope that Greece and its creditors wouldreach a deal at the Eurogroup meeting. Currently noprogress appears to be made in the ongoing negotiations and theparties remain far apart in their talks on the 7.2 billioneuros in bailout aid. The markets are closing another bad day,with the yield on the Greek 10-year note rising to over 13percent. "Time is running out but a deal is still possible,"said the president of the Eurogroup, Jeroen Dijsselbloem. Thechance is "very small" that a deal will be reached with Greecewhen Eurogroup finance ministers meet on Thursday to try tofinalise an aid-for-reforms agreement, the group's presidentsaid. And according to an official involved in the preparationof the summit of eurozone finance ministers, the discussion"will be quite short" and it is up to Greece to make a move tocontinue the talks. Meanwhile, Greece has received support fromAustria. The Austrian Chancellor, Werner Faymann, has flown toAthens, where he expressed solidarity with the people of Greecebefore meeting with the Greek prime minister. . .