06-08-2015, 05:48 AM
Mr Tsipras had misrepresented the EC's proposals to his parliament, Mr Juncker said, by suggesting they were offered on a take-it-or-leave-it basis, when he "knew perfectly well that I was willing to discuss the main points of disagreement". The European Commission is asking for further reforms to Greece's economy, including tax increases and cuts in civil servants' salaries and pensions, before the next €7.2bn (£5.2bn) tranche of bailout money will be released. But Greece has robustly rejected these proposals without some form of debt restructuring agreement in return. Earlier this week, Greece said it would delay making a €300m loan repayment to the International Monetary Fund, instead rolling up four scheduled payments into one €1.6bn payment to be made at the end of June. BBC economics editor Robert Peston said this move meant that "the risk of Greece defaulting on its debts - and leaving the euro - has substantially increased."
Greece's Tsipras 'failed' to deliver promised plan - Juncker - BBC News
Greece wants to restructure its huge public debt through cheaper refinancing, longer maturities, a write off of some principal and turning some debt into perpetual or GDP-linked bonds, but the plans have no support in the euro zone so far.
Greece's plans have no support from its creditors - Business Insider