Saturday, June 2, 2012

Greece’s leftist party to oppose EU bailout deal if elected

Alexis Tsipras, head of the Greek leftist party, Syriza (file photo)

Source: Press TV

Greece’s anti-bailout leftist party, Syriza, says it will oppose the bailout deal offered by the European Union and International Monetary Fund (IMF), if it is elected in the forthcoming parliamentary polls.

Calling the bailout deal “an automatic pilot to utter disaster,” the 37-year-old head of the party, Alexis Tsipras, announced on Friday that his party will seek to renegotiate EU’s bailout if it garners enough votes in the decisive June 17 election, AFP reported.

The country’s upcoming election will determine whether the cash-stripped South European country would meet the EU-required conditions in order to receive its second aid package containing hundreds of millions of Euros aimed at bailing the troubled country out of its worsening crisis.

Syriza’s leader added that the party will seek to renegotiate the nation’s debt issue at the European level to drastically reduce it and to request a suspension of interest payments until the conditions for the stabilization and recovery of the economy are created.

Syriza’s position in opposing the bailout funds offered by European Central Bank and IMF has sparked fears of the country’s possible exit from the bloc if the EU-required reforms and budget cuts are not implemented by the radical party.

The possibility of the incident has also raised doubts about the future of the single European currency and the fate of a united EU bloc dream.

Tsipras stated that although the country can stay a member state of the eurozone, the bailout deal itself “is tantamount to returning to the drachma.”

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

World United Music Podcast

World United Music Podcast
Click on Image for Direct Link