Is this what Europe calls tough love?
“We will do everything up until the 30th for the Greeks to show they are prepared to reform,” Oettinger, the EU commissioner for digital economy and society, told Deutschlandfunk radio. “A ‘Grexit’ isn’t our aim but would be unavoidable if there is no solution in the next five days,” he said.
Over the past few days, Greek Prime Minister Alexis Tsipras has been negotiating with the IMF and European officials on proposed reforms that his government is required to initiate, to secure a 7.2-billion euro tranche of bailout money and allow Greece to repay 1.6-billion euro.
The Saturday meeting of the Eurozone finance ministers will be “decisive” in breaking the stalemate in the Greek debt negotiations, German Chancellor Angela Merkel told a news conference on Thursday. “We are saying, not without careful thought, that this Eurogroup is of decisive importance, taking into account that time is very short and that a result must be worked on,” she said, dodging a question about possible Plan B to avoid Greek default.