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Latest Release From The Embassy Of Greece in Ottawa

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[July 14th 2015]

Prime Minister Tsipras: Greece was pressured at summit but deal could allow Greece to recover

— The result of the summit meeting in Brussels is the result of
the pressure put on the country, but the agreement which will be achieved
could allow Greece to avoid a Grexit and place the country in a sustainable
path, Prime Minister Alexis Tsipras said on Tuesday night, during an
interview with public broadcaster ERT.

“Last night was a bad night for Europe,” Tsipras said commenting on the
Summit meeting which ended on Monday morning in Brussels, adding that the
way Greece was dealt with “does not honour the tradition of a democratic
“I tried with the strength of all my soul to claim as much as I could,” he
revealed, noting that he won’t escape his responsibilities.

Commenting on the final deal, he said: “The result of the summit meeting and
the Eurogroup is the result of a pressure put on a country to approach the
wished of the more powerful countries of Europe.”
He clarified, however, that the choices presented to Greece were either an
agreement with these conditions, or a disorderly bankruptcy and eventually
an exit from the Eurozone. “We got an agreement which includes harsh
reforms, but it does not include the complete dead end of the ultimatum we
were presented with in July.”

The premier admitted that this was not an easy decision for his 18
counterparts, but focused on the silver lining on the deal, which secures
funding for the country and covering of the country’s medium-term loan

“Now I have this result, but we also have 82 billion euros, coverage of our
country’s medium-term borrowing needs and a clear commitment to discuss debt
restructuring from 2022 onwards in the immediate future,” he noted.

Tsipras also said the deal will secure the recapitalization of Greece’s
lenders and a front-loaded investment programme totaling 35 billion euros.

“It’s a combination which – if it is achieved – we could avoid a Grexit and
provide a prospect of recovery for Greece,” he said.

Twitter: @GreeceInCanada