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| Greece crisis: Alexis Tsipras accepts troika bailout proposals with conditions | |
| (about 3 hours later) | |
| Alexis Tsipras has said that Greece will accept all bailout conditions proposed by the country’s creditors with only a handful of minor changes. | Alexis Tsipras has said that Greece will accept all bailout conditions proposed by the country’s creditors with only a handful of minor changes. |
| In a letter sent to the European Commission, the International Monetary Fund and the European Central Bank and seen by the Financial Times, Tsipras expanded his idea for a new, third €29.1 billion rescue package. | In a letter sent to the European Commission, the International Monetary Fund and the European Central Bank and seen by the Financial Times, Tsipras expanded his idea for a new, third €29.1 billion rescue package. |
| The second bailout package expired last night when Greece failed to meet a €1.6 billion IMF debt repayment. Tsipras then prosposed a third package and a new set of 11 conditions - along with a note saying Greece was prepared to accept the troika's proposals from Sunday. | The second bailout package expired last night when Greece failed to meet a €1.6 billion IMF debt repayment. Tsipras then prosposed a third package and a new set of 11 conditions - along with a note saying Greece was prepared to accept the troika's proposals from Sunday. |
| "The Hellenic Republic is prepared to accept this Staff Level Agreement subject to the following amendments, additions or clarifications," the letter read. | "The Hellenic Republic is prepared to accept this Staff Level Agreement subject to the following amendments, additions or clarifications," the letter read. |
| Got my hands on new @atsipras letter conceding on almost all points. QUick story here: http://t.co/VsdKLnWw8M pic.twitter.com/kHIVrvpOBi | Got my hands on new @atsipras letter conceding on almost all points. QUick story here: http://t.co/VsdKLnWw8M pic.twitter.com/kHIVrvpOBi |
| Greece will accept all the VAT proposals, Tsipras said, as long as there is a 30 per cent discount for Greek islands. | Greece will accept all the VAT proposals, Tsipras said, as long as there is a 30 per cent discount for Greek islands. |
| The pension age will change to 67, Tsipras agreed, starting in October rather than immediately as the troika had proposed. He also asked that a ‘solidarity grant’ for poorer pensioners is phased out more slowly than the troika requested. | The pension age will change to 67, Tsipras agreed, starting in October rather than immediately as the troika had proposed. He also asked that a ‘solidarity grant’ for poorer pensioners is phased out more slowly than the troika requested. |
| Eurozone finance ministers are scheduled to discuss Tsipras’s latest proposals in a conference call at 5.30pm Brussels time. | Eurozone finance ministers are scheduled to discuss Tsipras’s latest proposals in a conference call at 5.30pm Brussels time. |
| However there is already some pushback from ministers, according to reports. | However there is already some pushback from ministers, according to reports. |
| Getting sig pushback from creditors on new @atsipras letter. #Greece still holding out on items amounting to "hundreds of millions" at least | Getting sig pushback from creditors on new @atsipras letter. #Greece still holding out on items amounting to "hundreds of millions" at least |
| Markets reacted positively to the news. | Markets reacted positively to the news. |
| Dax after FT report of Tspiras's letter to EC/ECB/IMF accepting conditions with minor changes for extension/bailout 3 pic.twitter.com/HLAu5fzwcZ | Dax after FT report of Tspiras's letter to EC/ECB/IMF accepting conditions with minor changes for extension/bailout 3 pic.twitter.com/HLAu5fzwcZ |
| German VC Gabriel: if #Greece wants to negotiate "it would make sense to cancel his referendum”, “talks could then take place immediately" | German VC Gabriel: if #Greece wants to negotiate "it would make sense to cancel his referendum”, “talks could then take place immediately" |