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 Schaeuble saidthere was little hope that Greece and its creditors would reacha deal at the Eurogroup meeting. Currently no progress appearsto be made in the ongoing negotiations and the parties remainfar apart in their talks on the 7.2 billion euros in bailoutaid. The markets are closing another bad day, with the yield onthe Greek 10-year note rising to over 13 percent. "Time isrunning out but a deal is still possible," said the presidentof the Eurogroup, Jeroen Dijsselbloem. The chance is "verysmall" that a deal will be reached with Greece when Eurogroupfinance ministers meet on Thursday to try to finalise anaid-for-reforms agreement, the group's president said. Andaccording to an official involved in the preparation of thesummit of eurozone finance ministers, the discussion "will bequite short" and it is up to Greece to make a move to continuethe talks. Meanwhile, Greece has received support from Austria.The Austrian Chancellor, Werner Faymann, has flown to Athens,where he expressed solidarity with the people of Greece beforemeeting with the Greek prime minister. (AGI).

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