Greece will stand by its so called red lines

Greek Prime Minister says that there will be no further cuts to state wages and pensions

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Despite making progression towards a deal, Prime Minister Alexis Tsipras baffled observers at an economic conference in Athens, as he stated that a deal will not be settled at any cost. 

"There's no doubt that an agreement must be reached," said Tsipras "but those who think that the Greek side's resistance can be tested or that its red lines will fade as time passes, would do well to forget it."

The debt burdened countries cash reserves are running out fast and talk over cash-for- reforms with its international lenders which are continuing to drag. 

As Greece fails to strike an agreement with creditors to unlock remaining bailout funds of €240 billion, the country plunges back into recession and casts a shadow over its future with the European Union. 

Greek officials spoke on the matter in separate interviews with Skai TV on Saturday. Finance Minister Yanis Varoufakis stated that the country will not accept measures which are not acknowledged by the government solely to reach a deal. On the other hand, the alternate health and social security minister, Dimitris Stratoulis asserted that the government is looking for an agreement that will “serve the interests of the Greek people, the country and Europe.”

Negotiation talks between Greece officials and representatives of the International Monetary Fund, the European Central Bank and the European Commission will continue this week, said a European Union official who wishes not to be named. 

TRTWorld and agencies