Greek Prime Minister Alexis Tsipras unveiled new proposals to European leaders on Sunday, aiming at ending his country’s debt crisis, on the eve of a summit which could determine whether Greece crashes out of the eurozone.
In a telephone call with German Chancellor Angela Merkel, French President Francois Hollande and European Commission President Jean-Claude Juncker, Tsipras unveiled the new proposals on a “mutually beneficial deal”, the Greek premier’s office said in a statement.
It said the plans were aimed at reaching a “definitive solution” to the standoff between Athens and its creditors — the European Commission, International Monetary Fund and European Central Bank — amid growing global concern over a potential “Grexit” from the eurozone.
Pressure is mounting to find a way of preventing Greece finally defaulting on its debt repayments due at the end of the month, with an emergency summit of the leaders of the 19 eurozone countries due on Monday in Brussels.
Greece’s anti-austerity government met Sunday to refine its proposals, while a European source said Tsipras and Juncker “held talks Saturday and will again speak Sunday”, adding that there were many exchanges and “informal work underway to find a solution”.
If there is no deal, Greece seems likely to default on an IMF debt payment of around 1.5 billion euros ($1.7 billion) due on June 30, and with that risk a chaotic exit from the eurozone.
The details of the proposals were not disclosed, but Greek minister of state Nikos Pappas said that his country did not want any more help from the IMF.
“I am one of those who think that the IMF should not be in Europe. I hope we find a solution without its participation,” Pappas said.
He claimed that Europe “has no need” of the Washington-based institution, which has an “agenda which is not at all European” and “can continue without it and its money”.
The IMF was called in to help rescue Greece at the end of 2009 when the debt-plagued country could no longer borrow on international markets.