Tsipras prepared to accept all bailout conditions
Schaeuble says the second Greek letter lacks clarity
Schaeuble taking a tough line on the latest developments
- Says second Greek program is expired
- Any new program would be under ESM
- Greece needs to provide clarity on what it wants
- Greek proposals aren't a basis for serious measures
- Can't go back to status quo on Greece
- New Greece talks are under more difficult conditions
You've made you bed now lie in it, is what he's basically telling Tsipras
And the Germans are not
Now : who is deciding in the EU? It is becoming a sad period for EU
Tsipras: If there is a positive offer from Eurogroup, we will respond immediately
Tsipras calls for 'No' vote but leaves door open to accepting deal before vote
- Says Troika proposals were improved after referendum call
- Government remains at the negotiating table
- We will decide whether we approve any viable solution, government's steady goal is to achieve a solution
- Our only way out was to go to the people and that's what we're doing
- No vote does not mean we leave the euro or rupture with Europe
- I am fully aware of difficulties, I would do all I can so they're temporary
- I take responsibility for a full solution after the referendum
There's some firebrand rhetoric in there but he's also laying the groundwork to cancel the referendum if he sees fit.
EU's Dijsselbloem thinks there's fat chance of progress after Tsipras speech
Dijsselbloem says there's little chance of progress after the Greek PM's speechThere's less that a few thumbs going up after the speech from Tsipras
Keeping with the Greek PM, his office has also said there's fat chance of cutting defence spending. It's even been rumoured that they've actually increased defence spending recently despite everything that's going on
Not sure why they need to do that as they won't be fighting to keep as many Germans from hogging all the sun loungers like they would normally
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Alexis Tsipras will accept all his bailout creditors' conditions that were on the table this weekend with only a handful of minor changes, according to a letter the Greek prime minister sent late Tuesday night and obtained by the Financial Times.
The two-page letter, sent to the heads of the European Commission, International Monetary Fund and European Central Bank, elaborates on Tuesday's surprise request for an extension of Greece's now-expired bailout and for a new, third €29.1bn rescue, writes Peter Spiegel.
Although the bailout's expiry at midnight Tuesday night means the extension is no longer on the table, Mr Tsipras' new letter could serve as the basis of a new bailout in the coming days.
Mr Tsipras' letter says Athens will accept all the reforms of his country's value-added tax system with one change: a special 30 per cent discount for Greek islands, many of which are in remote and difficult-to-supply regions, be maintained.
On the contentious issue of pension reform, Mr Tsipras requests that changes to move the retirement age to 67 by 2022 begin in October, rather than immediately. He also requests that a special "solidarity grant" awarded to poorer pensioners, which he agrees to phase out by December 2019, be phased out more slowly than creditors request.
"The Hellenic Republic is prepared to accept this staff-level agreement subject to the following amendments, additions or clarifications, as part of an extension of the expiring program and the new [third] loan agreement for which a request was submitted today, Tuesday June 30th 2015," Mr Tsipras wrote. He added:
Eurozone finance ministers are due to discuss Mr Tsipras' new proposal in a conference call at 5:30pm, Brussels time.
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