As of this writing, Greek Prime Minister Alexis Tsipras is finalizing a tough package of tax hikes and pension reforms to send to euro zone authorities by midnight in a race to secure agreement at the weekend on a third financial rescue for his country. Meanwhile, the European Union’s chairman joined growing international calls for Greece to be granted debt restructuring as part of any new loan deal if it delivers convincing reforms to avert imminent bankruptcy.
The call was an implicit challenge to Germany, Athens’ biggest creditor, which has so far ruled out any write-offs as illegal and taken a restrictive view of restructuring the debt to help Greece over a major repayment hump this year.
ABC’s Tom Rivers joined us from London to discuss.
