Greece is back on the roller coaster ride. After agreeing at the beginning of the month to the terms of the bailout programs with the leaders of the Eurozone group, all team players are back to the bargaining table.
Although Greece and the international lenders and those overseeing the arrangements have basically agreed on most of the technical details, another blip has reared its head as members of Alexis Tsipras’s government still object to some of the provisions of the deal.
Germany Still Tough
Germany in particular is proving difficult in the ongoing discussions. Before agreeing to all the last minute details, the German Finance Ministry has said it wants the Eurogroup to address all of Greece’s unanswered questions about the bailout program on Friday, primarily whether the IMF will contribute financially to the deal. German officials has made it clear over the last few days that IMF participation is central to the so-called "Memorandum of Understanding" – the draft deal – between Greece and its lenders.
Tsipras told his Parliament Friday that the bailout agreement was a "necessary choice for us," and urged lawmakers to approve the 85-billion-euro bailout agreement.
High profile members of the ruling Syriza party in the Greek Parliament, including former finance minister Yanis Varoufakis and parliamentary speaker Zoe Konstantopoulou, strongly oppose the deal which comprises more spending cuts and austerity reforms.
The Eurogroup of finance ministers will be meeting in Brussels to debate the latest developments in the latest 85 billion euro ($94.8 billion) bailout program for Greece.
