Monday’s emergency summit in Brussels ended more hopeful than it began, with Greece looking to have stepped back , if only slightly, from the brink of financial disaster.
New budget proposals which include concessions from Greece’s Prime Minister on higher taxes and welfare charges have been welcomed as a basis for a possible deal by euro zone leaders.
ECB chief Mario Draghi is also said to have reassured Greece that the central bank will continue to support Greek banks as long as Athens remained in a bailout programme.
“We want a comprehensive and viable solution that is accompanied by a strong growth package that will make the Greek economy viable,” said Greek Premier Alexis Tsipras. “So that the country can stand on it’s feet again. The ball is in the court of the European leadership.”
Now the proposals will be scrutinized , not the least by Germany, Greece’s biggest creditor, to see if the sums add up putting Athens on target to reduce its massive deficit.
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