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3/20/15

Greece- EU crisis talks end with Greek reform pledge - "but patience of EU could be running out"

Greek Prime Minister Alexis Tsipras assured European Union creditors at late-night crisis talks in Brussels that his leftist-led coalition would soon present a full set of economic reforms in order to unlock cash to stave off bankruptcy.

After two months of mounting frustration on both sides since Tsipras was elected with a mandate to end years of austerity imposed by creditors’ conditions, the three-hour meeting on the sidelines of an EU summit was requested by Tsipras to break an impasse that risks seeing Athens stumble out of the euro zone.

But while a joint statement by the EU institutions spoke of a “spirit of mutual trust” and Tsipras said he left feeling more optimistic, German Chancellor Angela Merkel stressed no money would be released before Athens implements budget measures and other reforms that it has so far been reluctant to consent to.

Note EU-Digest: patience in the EU could be running out if Greece is not able or willing to understand that their economy is completely riddled as a result of a top heavy and overpaid civil service sector, corruption at every level, a tax system which does not work and a government which believes they can "call the shots" on the rest of Europe. Greece better wake-up and smell the roses.

Read more on Greece Europe - EU crisis talks end with Greek reform pledge - France 24

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