Europe

Greece full debt repayment unrealistic: Syriza

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The top economic spokesman for Greece’s victorious Syriza Party says it would be unrealistic to expect the country to repay its massive debt in full.

“I haven’t met an economist in their heart of hearts that will tell you that Greece will pay back all of that debt. It can’t be done,” said Euclid Tsakalotos as quoted in a BBC report on Tuesday.

“Nobody believes that the Greek debt is sustainable,” Tsakalotos added.

Greece’s far-left Syriza Party, which won the general election on Sunday, says the country’s 240-billion-euro bailout by international lenders must be renegotiated.

The Syriza spokesman further stated that EU leaders needed to demonstrate that they were willing to work with the victorious Greek political party.

“It’s going to be a very funny and a very dangerous Europe with very strong centrifugal political forces if they signal that after a democratic vote they’re not interested in talking to a new government,” Tsakalotos said.

“It will be a final signal that this is a Europe that can’t incorporate democratic change and it can’t incorporate social change.”

EU leaders, however, have warned the new Greek administration that it must keep its commitments to the creditors.

Tsakalotos, however, argues that it would be “my worst nightmare if the eurozone collapses because Greece falls.”

“And if Greece falls and is removed from the eurozone – the eurozone will collapse. We said from the beginning the eurozone is in danger, the euro is in danger, but it isn’t in danger from Syriza… it is in danger from the very policies of austerity,” he stated.

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