Greece ruling party economist says current bailout terms not an option

World Today

Still locked in talks, Greece and its Eurozone partners are still trying to hold fast to their different view points on how to handle the bailout. John Milios, the chief economist of Greece’s radical leftist party, Syriza insists that sticking to the current terms of Greece’s bailout is simply not an option. CCTV’s Sandra Gathmann reported from Brussels.

Greece ruling party economist says current bailout terms not an option

Greece ruling party economist says current bailout terms not an option

Still locked in talks, Greece and its Eurozone partners are still trying to hold fast to their different view points on how to handle the bailout. John Milios, the chief economist of Greece's radical leftist party, Syriza insists that sticking to the current terms of Greece's bailout is simply not an option. CCTV’s Sandra Gathmann reported from Brussels.

“We need another program. We need a new program that will not focus on austerity. The program that we had until now had to much extent Greek ownership. The previous government expressed the interests of this oligarchic structure that has governed the country since the fall of the junta has put forward a program of cuts, of the welfare state of people’s living standards, and so on. We need a program of growth and stability, and that’s why we cannot agree to an extent a program that has failed, a program that has cost the Greek people a lot of stress, and is disaster,” Chief Economist of the ruling Syriza party, John Milios said. The political party swept to power after last month’s elections on the promise they would end Greece’s 240 billion euro bailout.

“We want to implement a multi-lateral foreign policy, have very good relations with our neighboring countries, but also any other country in the world. The problem we are talking about is a European problem and shall be solved in the European framework,” Milios said. 

The clock is ticking fast for Greece with its current bailout deal expiring in less than a month, negotiations continue to be tense.