ATHENS (Reuters) – “Grexit” would be sudden, sharp and probably conducted in the dark of night; if Greece were to quit the euro, it would also mark the beginning of a long, hard road – for some harder still than the one already traveled.
The new leftist government wants to keep the country in the currency union, as do its euro zone counterparts. But if they fail to agree a deal to replace or extend a bailout program that expires on Feb. 28, Greece faces the risk of a euro exit – “Grexit” in market shorthand – forced by bankruptcy and default.
By Jeremy Gaunt
ATHENS(Reuters) – Greece’s new finance minister, Yanis Varoufakis, heads to a Eurogroup finance ministers meeting on Wednesday to ask for something almost no one there wants to give – at its most basic, a new debt agreement without the strings of austerity.
His officials say he expects a tough time. The question is whether he will come out like one of his predecessors, Evangelos Venizelos, having been humiliated.
ATHENS, Feb 8 (Reuters) – New Greek Prime Minister Alexis
Tsipras will lay out his radical left-wing government’s policies
in a speech later on Sunday, firmly rejecting any more austerity
forced on his debt-strapped country by its euro zone partners.
In his first major speech to parliament as premier, Tsipras
is expected to say that Greece wants no more bailout money,
plans to renegotiate its debt deal and wants a “bridge
agreement” to tide the country over until a new pact is sealed.