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PM Tsipras at EU Council ahead of closely watched meeting on Thur.

Thursday is a crucial day for Greek negotiations with international creditors

Newsroom March 19 08:31

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Prime Minister Alexis Tsipras will arrive in Brussels at noon on Thursday for the EU Council and is expected to remain steadfast in his view that no more austerity measures should be taken in Greece.

The new radical leftist Greek government has previously claimed that a number of European officials wish to undermine its role, even to see its downfall, whereas international creditors are concerned that the SYRIZA government that won in the January 25 elections is not keeping to the commitments of the Eurogroup agreement of February 20.

A great deal of attention is being cast on a group meeting that Tsipras requested with European Commission President Jean-Claude Juncker, German Chancellor Angela Merkel, French President Francois Hollande, European Central Bank President Mario Draghi and EU Council President Donald Tusk on Thursday evening, following the conclusion of the EU Council.

TSIP

Tsipras will call for a political solution based on the Eurogroup agreement that gives the Greek government a fiscal margin in order to adopt the reforms it had promised during its pre-election campaign without causing new deficits.

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On their part, Greece’s EU partners are calling for specific measures and will also put forth a number of issues concerning the Greek government’s treatment of the institutions formerly known as “Troika”. It is believed that the Greek government is not recognizing the negotiatory role of these institutions. Another matter that they may discuss is Finance Minister Yanis Varoufakis’ handling of Greece’s affairs, though the Greek government has denied rumors that Juncker asked Tsipras to restrain the Greek minister.

It seems unlikely that there will be a convergence of views based on developments so far. International creditors insist that the Greek government should cooperate with the technical groups representing them, however the Greek government believes that the problem in Greece should not only be viewed from the optic viewpoint of figures that have not balanced anyway for the last five years but by looking at the whole picture beyond the economy, including geopolitics. Tsipras is expected to exploit U.S. President Barack Obama’s call to Merkel on Wednesday, and call for a realistic compromise.

The meeting to take place on Thursday evening is seen as a last opportunity for a solution to be found prior to the Merkel-Tsipras meeting to take place in Berlin on Monday.

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