Greece: Greek Prime Minister makes case for his country, gets Sunday deadline

by Benson Agoha | European Union

Alexis Tsipras gives a strong defense of his people and the recent `No' vote, even as EU gives a final deadline the cash-strapped nation

Greek Prime Minister Alexis Tsipras (R) shakes
hands with a Member of the European Parliament
as he arrives to give his speech to the media
in Strasbourg, France, July 8, 2015.
(Credit: via Reuters).

Greek Prime Minister is addressing media at the European Parliament in Strasbourg, France today after a meeting with EU leaders, where his country was given up till Sunday as a deadline.

As he arrives for his address, Smiling Alexis Tsipras shook hands with members of the European Parliament and told the media thereafter that, with the mandate of the Greek people behind him, he hopes to go into the next discussion with a determination to quickly clinch a deal.

Below is a transcript of his speech:

Thank you for the invitation-& honor-to address the elected representatives of peoples of Europe.

The Greek people's brave choice in conditions of unprecedented pressure, does not mean a break w/Europe.

My country was used to experiment with austerity. The experiment, we must admit, failed.

The majority of Greek people feel that there is no other choice but to stop treading this road to nowhere.

It includes the adequate coverage of the country's financial needs.

Our proposal to the institutions includes: credible reforms based on a fair sharing of burdens.

It includes the adequate coverage of the country's financial needs.

It includes a strong investment program, primarily for combating unemployment and encouraging entrepreneurship.

It includes a commitment to begin a sincere discussion regarding a solution to problem of sustainability of Greece's public debt.

Our proposals for financing our obligations & restructuring our debt will not burden European taxpayers.

But the stance of the EU as it stands today remains a tough one, with Greece being given up to Sunday for a final deadline to submit a new proposal with the right conditions to save Greece from economic blackout, and potential exit from the EU called Grexit.

How this will happen remains to be seen though with German Chancellor Angela Merkel, saying they expect a simple answer to whether Greece was ready with the right conditions for a deal.

"The challenge for Sunday will be to see if the conditions are in place for taking up negotiations. Yes or No. No more, no less." Merkel said.

* by Benson Agoha (with contributions from Twitter, Reuters).