Greece Says “No Way Back” In Bid To Rewrite Bailout Deal

Greece’s new prime minister struck a defiant tone on the eve of high-stakes negotiations with skeptical European creditors, saying there is “no way back” for his radical left-led government in its quest to rewrite the barely solvent country’s bailout commitments.

Alexis Tsipras said late Tuesday that Greece is seeking a new deal with its bailout creditors that would not condemn Greeks battered by five bitter years of income cuts, tax hikes and record job losses “to a lifetime of misery.”

Tsipras spoke just before a vote of confidence, which his two week-old government easily won by 162-137 votes. Tsipras’ radical left Syriza party was backed by lawmakers from its unlikely coalition partner — a small populist right-wing party that says Greece could turn to Russia, the U.S. or China for help if talks with creditors fail.

On Wednesday, eurozone finance ministers will hold an emergency meeting in Brussels on Greece, which will be grilled for details on its proposed new deal to replace the frozen bailout agreements.

The finance ministers convene again next Monday in Brussels, hoping to find a breakthrough at that stage.

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Frank Jordans in Berlin and Raf Casert in Brussels contributed to this report.

The Huffington Post