Greece says no to bailout extension

Greek Prime Minister Alexis Tsipras has unveiled his high-stakes economic policy, promising to service the country's debt.

New Greek prime minister Alexis Tsipras

Greek radical left SYRIZA leader and newly sworn-in Greek Prime Minister Alexis Tsipras (EPA/PANTELIS SAITAS)

New Greek Prime Minister Alexis Tsipras says Athens doesn't want an extension of its bailout but insisted on the need for a "bridge program" that would buy the country time to negotiate a new deal.

"The new government is not justified in asking for an extension of the bailout. The Greek people gave us a mandate to cancel the disastrous austerity program," he said in a key policy speech to parliament.

"We want a new deal, a bridge programme which would give us the fiscal space that a sincere negotiation requires," he said.

The PM, speaking just days before an extraordinary meeting of eurozone ministers in Brussels, said the government would "respect eurozone rules but would "not condemn the Greek economy to an eternal recession".

He stressed "the government's unshakeable decision to honour all our pre-election promises," saying it was "a matter of honour, credibility, and respect for democracy".

Speaking to fears the new government's stand against austerity could see Greece exit the eurozone, Tsipras said the country intended to honour its debts.

"Greece wants to service its debt. If our peers want so too, they are invited to come to the table of dialogue so we can discuss how to make it viable," he said.

As a symbol of the new government's shift away from austerity, the 40-year old said he would re-open ERT public television, which was closed in 2013 by the previous government in a bid to save money.

ERT would be re-opened to "repair a crime against Greek people and democracy," he said.


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Source: AAP



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Greece says no to bailout extension | SBS News