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Belgium: Agreement with Greece must be reached today - Schulz00:49

Belgium: Agreement with Greece must be reached today - Schulz

Belgium, Brussels
July 12, 2015 at 10:41 GMT +00:00 · Published

An agreement on the Greek debt crisis “must be reached today,” Martin Schulz, the President of the European Parliament, announced as he arrived at the Justus Lipsius building in Brussels to join a Eurozone summit on Sunday.

Schulz added that adjourning the deal once more is “not an option”. His statement stands in contrast to German Chancellor Angel Merkel’s words, who said that an agreement is far from guaranteed.

The negotiations come exactly a week after Greek voters rejected the terms of a bailout package proposed by Greece’s lenders. The new Greek proposal offers economic reforms in exchange for a new three-year €53.50 billion ($60 billion) bailout package, which 250 out of 300 Greek MPs have supported.

The new proposals reportedly include the privatisation of regional airports and seaports; raising the retirement age to 67 by 2022; abolishing solidarity instalments for poorer pensioners before 2020; increasing the number of items with a 23 percent tax rate; cutting military spending by €300 million ($335 million) over the next two years and raising corporation tax to 28 percent.

Belgium: Agreement with Greece must be reached today - Schulz00:49
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An agreement on the Greek debt crisis “must be reached today,” Martin Schulz, the President of the European Parliament, announced as he arrived at the Justus Lipsius building in Brussels to join a Eurozone summit on Sunday.

Schulz added that adjourning the deal once more is “not an option”. His statement stands in contrast to German Chancellor Angel Merkel’s words, who said that an agreement is far from guaranteed.

The negotiations come exactly a week after Greek voters rejected the terms of a bailout package proposed by Greece’s lenders. The new Greek proposal offers economic reforms in exchange for a new three-year €53.50 billion ($60 billion) bailout package, which 250 out of 300 Greek MPs have supported.

The new proposals reportedly include the privatisation of regional airports and seaports; raising the retirement age to 67 by 2022; abolishing solidarity instalments for poorer pensioners before 2020; increasing the number of items with a 23 percent tax rate; cutting military spending by €300 million ($335 million) over the next two years and raising corporation tax to 28 percent.

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