Tsipras warns Greece of 'difficult compromise' after creditors' default threat

http://www.dw.de/tsipras-warns-greece-of-difficult-compromise-after-creditors-default-threat/a-18516050

The Greek prime minister has warned his country to prepare for a "difficult compromise" with EU and IMF creditors. Greece has submitted its last chance proposal to Brussels to avert a catastrophic default by Athens.

Tsipras warns Greece of 'difficult compromise' after creditors' default threat
13.06.2015

In a bid to end of five-month standoff with the International Monetary Fund (IMF), the European Union (EU) Commission, and the European Central Bank, Alexis Tsipras said on Saturday that he was willing to accept unpalatable compromises to secure a deal, provided he gets debt relief in return.

The EU and IMF are demanding tough reforms in exchange for giving Athens the 7.2 billion euros ($8.1 billion) still remaining in its international rescue package.

"If we arrive at a viable accord, even if it is a difficult compromise, we will take up the challenge because our only criteria is to get out of the crisis," Tsipras was quoted as telling Greek officials in a government statement.

Preparation for default

Athens is under huge pressure to strike an agreement to unlock the vital bailout funds in the coming days, with top eurozone officials saying on Friday that they were preparing the ground for an Athens default.