Greece Reaffirms Rejection of Bailout Before Emergency EU Meeting

"Prime Minister Alexis Tsipras reaffirmed his government’s rejection of Greece’s international bailout program before Wednesday’s emergency meeting of the euro area’s finance ministers to discuss the country’s financing needs." 

“We need an honest negotiation with our partners that does not condemn the Greek economy and society to unending recession,” Tsipras, 40, said in an address to parliament on Sunday, marking the start of a three-day debate on his government’s policy platform.

The leader of Greece’s anti-bailout governing coalition vowed to increase the minimum wage, restore the income tax-free threshold, halt infrastructure privatizations, and ask for World War II reparations from Germany, in a speech that sets him on a collision course with the country’s creditors.

“It is the irrevocable decision of our government to honor the mandate of the Greek people and negotiate an end to the European Union’s austerity,” said Tsipras.

Read more: Greek markets fell, with the Athens Stock Exchange dropping 4.2 percent as of 10:46 a.m. local time, and the yield on 10-year bonds rising 56 basis points to 10.68 percent.