Greece can reject EU proposals on loan deal | world | Hindustan Times
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Greece can reject EU proposals on loan deal

world Updated: Jun 08, 2015 00:00 IST

Greece is determined to reject the EU’s latest proposals on a default-saving loan deal, two senior ministers said on Sunday, ahead of a crucial week for the struggling nation’s reform talks.

“It was an aggressive move designed to terrorise the Greek government,” finance minister Yanis Varoufakis told Proto Thema daily, declaring “this Greek government cannot be terrorised”.

The European Commission last week presented Greece with a five-page list of proposals, including sales tax hikes and cuts in civil servants’ salaries and pensions.

Greek Prime Minister Alexis Tsipras on Friday blasted the proposals as “absurd” and insisted Athens would not accept a deal unless it included a restructuring of the country’s massive debt.

Speaking at a G7 summit in Germany on Sunday Commission President Jean-Claude Juncker said Tsipras had promised to present a list of alternative reforms by Thursday evening, but had failed to do so.

“I never received this alternative proposal,” Juncker said.

Varoufakis called the EU’s proposals “borderline insulting”.

“We need reforms, debt restructuring and investment...if we don’t have all three together, we will not sign,” he said.