New Greek Prime Minister to ask for help in Rome, in attempt to build support for better bailout terms
On Tuesday Greece's new Prime Minister Alexis Tsipras is meeting Italian center-left Prime Minister Matteo Renzi, as he continues a diplomatic tour around Europe.
Last week Tsipras' far-leftist Syriza party swept to victory after campaigning to soften Greece's tough austerity measures, which appeared to be a challenge to international bailout lenders. After a restructuring in 2012, Greece still has debts of more than 315-billion euros, or 175 percent of gross domestic product.
His first overseas trips in a role of a leader,
which took him on Monday to Cyprus,
are central to his push for support on the debt situation -
specifically negotiating new terms in Greece's 240-billion euro ($270
billion) bailout.
After he reiterated his long-standing view on Monday that Europe must abandon austerity, Matteo Renzi is considered to be among those most sympathetic to the matter.
"I believe it is crucial to send a clear message: we want to move the discussion on economic policy from austerity and rigor towards growth and investment," Renzi told RTL Radio quoted by Deutsche Welle. "We have to change economic policy at the European level, not just for Greece or any other country."
Tsipras' travels will hardly take him to Germany, with Europe's biggest economy standing firm on its position not to give Greece any more indulgence. On Monday a spokesperson for Chancellor Angela Merkel said the German government saw "no cause to depart from this proven mechanism," referring to the so-called troika of lenders - the International Monetary Fund, the European Commission, and the European Central Bank.
However, Tsipras has said he will no longer work with the troika, but instead wish to negotiate directly with creditors. On Monday night, Greece's finance minister Yanis Varoufakis held talks with private investors in London, reportedly to reassure bondholders.
