German daily newspaper, Handelsblatt, is reporting that European Commission President Jean-Claude Juncker is ready to scrap the troika mission from international lenders that governs Greece’s 320 billion euros ($360 billion) bailout.
If true, than score a win for Alexis Tsipras and SYRIZA.
In one week, it appears that the new Greek government has been able to accomplish more for the people of Greece than the PASOK and New Democracy governments did in eight years of EU debt enslavement.
It leaves us with one simple question…what the hell were the previous Greek governments doing in Brussels?
Were they just giving the Troika a carte blanche to do whatever it wished with the Greek economy as long as their riches, and seats of power, remained untouched?
“We have to find an alternative quickly,» it quoted the sources as saying, in an extract from an article released ahead of publication on Monday.
Berlin was also prepared to reform arrangements between the European Commission, European Central Bank and International Monetary Fund (IMF) and Athens, seen by its new government as «insulting» to Greek sovereignty, and establish more general economic targets, the paper quoted unnamed German government sources as saying.
However, this would only be possible if Greece accepted the need to stick to previously agreed reform and savings targets, the business newspaper said.
The new left-wing government of Greek Prime Minister Alexis Tsipras has said it wants to end the bailout deal and will not cooperate with troika inspectors in Athens.
It says it wants to negotiate directly with European authorities and the IMF over a new accord that will allow a reduction in its debt, which is equivalent to more than 175 percent of its gross domestic product.
Juncker, who is due to meet Tsipras in Brussels on Wednesday, has said he was not prepared to accept any direct write-off of Greece’s public debt.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.