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SYRIZA begins to talk ‘compromise’ on bailout

Syriza talk compromise bailoutThe Greek ruling coalition has admitted on Friday that it may have to accept an unpopular compromise agreement in order to complete the bailout offered by its creditors.

The parliamentary spokesman for Syriza, which leads the ruling coalition, Nikos Filis told Greek newspaper Kathimerini that the negotiations had not been “planned in the most effective way”, and that the government might have to give in on key sticking points in the talks.

“It is a compromise; we are not hiding it,” Filis said.

The remarks came after the International Monetary Fund (IMF) on Thursday announced that it was pulling its team out of negotiations in Brussels.

“There are major differences between us in most key areas. There has been no progress in narrowing these differences recently. Thus, we are well away from an agreement,” said IMF spokesman Gerry Rice. He added that the fund remained ready to resume talks. “The ball is very much in Greece’s court right now,” Rice said.

EU officials have expressed increasing frustration with the Greek government. “The day is coming, I’m afraid, that someone says the game is over. We have no more time,” Donald Tusk, the president of the European Council, said on Thursday after meeting with Greek Prime Minister Alexis Tsipras.

But the political mood in the ruling coalition may be changing, and that would make a last minute compromise deal possible. Greek negotiators are to meet with the Eurogroup on June 18 in what now looks to be a final showdown.

Greece is set to run out of funds to run its banks and public services by the end of June. The government must also repay about $2 billion to the IMF by the end of the month.

Greece must agree reforms to cut government spending and produce a budget surplus if it is to receive the next 7.2 billion euros ($8.1 billion) in bailout aid from the IMF, the European Central Bank and the EU.

Without external funding, Greece could default on payments due to its creditors, raising the risk of it possibly leaving the 19-member Eurozone.

SYRIZA MEP Kostas Chrysogonos also indicated on Thursday that the government might back down. “It’s not as if we’ve won a war against our lenders in order to impose conditions on them,” he said in an interview with Greek newspaper Kathimerini (Anadolu Agency).

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