NEWS

SYRIZA dismisses deal as 'half-baked compromise'

Greece's main opposition far-left party SYRIZA on Tuesday dismissed an agreement reached with the country's creditors in the early hours of the day as «a half-baked compromise,» accusing German Chancellor Angela Merkel of being «narrow-minded» and «egotistic.»

Dimitris Papadimoulis, a senior SYRIZA lawmaker, dismissed the agreement between the eurozone and the International Monetary Fund on reducing Greece’s debt by 20 percentage points and then setting it on a path that would see it drop below 110 percent of GDP by 2022.

«It's a half-baked compromise, a band-aid on the gaping wound of debt,» said Papadimoulis.

According to the agreement, Greece will receive 34.4 billion euros by the end of the year -– 23.8 billions is to complete the recapitalization of local banks -- but the remainder of the bailout loans (9.3 billion euros) it was expecting next month will be paid in three tranches at the beginning of next year.

Papadimoulis said German Chancellor Angela Merkel was standing in the way of a 50 percent write-off of Greece's debt, saying that was what Athens needed.

«(The deal happened) under pressure from the narrow-minded, egoistic, short-sighted economic policies of Merkel, who stingily watches over her money,» he said. [Combined reports]

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