EUROZONE-GREECE/TSIPRAS LETTER Greek PM writes last-ditch letter to Eurogroup

Record ID: 148846

  • Title: EUROZONE-GREECE/TSIPRAS LETTER Greek PM writes last-ditch letter to Eurogroup
  • Date: 30th June 2015
  • Summary: BRUSSELS, BELGIUM (JUNE 30, 2015) (REUTERS) LETTER FROM GREEK PRIME MINISTER ALEXIS TSIPRAS TO EUROGROUP HEAD JEROEN DIJSSELBLOEM AND THE CHAIRMAN OF THE BOARD OF GOVERNORS OF ESM (EUROPEAN STABILITY MECHANISM) DETAIL SHOWING WHOM THE LETTER IS ADDRESSED TO DETAIL SHOWING TSIPRAS' SIGNATURE DETAIL WITH LETTERS READING (English): "The loan will be used exclusively to meet t
  • Embargoed: 15th July 2015 13:00
  • Keywords:
  • Location: Belgium
  • Country: Belgium
  • Topics: General
  • Reuters ID: LVACW8LVTVDD4WBRICJBQIDDZIJX
  • Aspect Ratio: 16:9
  • Story Text: Greece on Tuesday (June 30) made a last-minute bid to extend its international bailout and have a two-year funding and debt restructuring programme, but offered no concessions to creditors' demands for economic reforms.
    A one-page letter, signed by Greek Prime Minister Alexis Tsipras and sent to the Eurogroup chairman, says Greece is "fully committed to service its external debt in a manner that secures the viability of the Greek economy, growth and social cohesion".
    But it made no mention of the conditions set by the European Commission, the European Central Bank and the International Monetary Fund for releasing frozen aid to avert a likely Greek default later on Tuesday.
    Instead, Tsipras cited legal grounds for requesting a two-year loan of an unmentioned amount.
    "The loan will be used exclusively to meet the debt service payments of Greece's external and internal debt obligations," he wrote. It was not clear whether that includes payment arrears to Greek government suppliers, civil servants and others.
    "In conjunction with the loan, Greece requests that its EFSF (eurozone rescue fund) debt be restructured and re-profiled in the spirit of the proposals to be made by the European Commission in order to ensure that Greece's debt becomes sustainable and viable over the long term," the text said.
    "Until this loan is agreed and in force, Greece requests for the programme to be extended by the Eurogroup for a short period of time in order to ensure a technical default is not triggered," it added.
    It made no mention of the leftist Greek government's plan to hold a referendum on Sunday (July 5) and to urge Greeks to vote "no" to the creditors' bailout terms.
    Attached to the letter was a table setting out Greece's maturing debt in 2015-2017, amounting to 12.335 billion euros this year, 7.191 billion in 2016 and 9.619 billion in 2017.
    Speaking at an event organised by the International Press Association, European Commission President Jean-Claude Juncker told Brussels-based journalists they may be surprised with the results of the negotiations.
    "The events taking place in Athens which may produce some results that won't match the news articles you wrote today," Juncker said.
    The Eurogroup of eurozone finance ministers will hold another conference call on Wednesday morning (July 1) to discuss new proposals from Greece, the spokesman of Eurogroup President Jeroen Dijsselbloem said on Tuesday.
    Greece faces defaulting at midnight on a loan repayment to the International Monetary Fund after the collapse of negotiations with creditors at the weekend on a new aid programme.
    Tsipras called a referendum on the creditors' offer for July 5, and has told Greeks to vote 'no'.
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