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NICOSIA – Cyprus, being supported by bailout loans from international lenders, has urged Greece’s new government to make a deal with them as well.

Athens and the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) are deadlocked over the lenders’ insistence the new Radical Left SYRIZA-led government of Prime Minister Alexis Tsipras has to stick to an agreement made by previous governments that brought harsh austerity, record unemployment and deep poverty.

“I believe that the Greek government, knowing the facts and the realities, needs to take its decisions; if it wants an extension to the program, it must request it now,” Cypriot Finance Minister Harris Georgiades told state radio.

“If it doesn’t want to do that, it would, I suppose, already have defined its alternatives which would allow for the financing of the Greek state and its economy,” Georgiades said, without elaborating.

“I believe that the Greek government, knowing the facts and the realities, needs to take its decisions; if it wants an extension to the program, it must request it now,” Cypriot Finance Minister Harris Georgiades told state radio.

“If it doesn’t want to do that, it would, I suppose, already have defined its alternatives which would allow for the financing of the Greek state and its economy,” Georgiades said, without elaborating.

Georgiades said Cyprus was backing Greece although it’s also backing the Troika which is providing the lifeline support for the beleaguered island’s government.

When asked what it would support, he said: “It’s not clear what the (Greek) request is to support,” and he couldn’t answer what he said Cyprus would support except that Greece should go along with what the Troika wants.

That is antithetical to the campaign promises of Prime Minister and Radical Left SYRIZA leader Alexis Tsipras who has already begun to back off some of his vows and is talking to the Troika, which he said he would never recognize but now does.

Almost two years ago Cyprus accepted a 10 billion euro bailout from the Troika but was forced to administer harsh measures in return, including confiscating 47.5 percent of deposits over 100,000 euros to pay for mistakes by bankers who were held harmless while customers were bled of their savings.

The post Cyprus Tells Greece: Deal With Troika appeared first on The National Herald.

Source: The National Herald
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