Euro Area May Set Greek Demands on Friday, Official Says

Commenting on Greek-Turkish relations, Tsipras said his government wants to improve relations with its neighbor, which must be based on respect for worldwide law, noting that resolving the Cyprus issue would go a long way in accomplishing that.

The neoliberal response to debt worsens economic crises and has a devastating social cost, said Greece’s Prime Minister Alexis Tsipras at the annual high-level debate of UN General Assembly here on Thursday.

Greece will unveil a painful 2016 draft Budget on Monday (Oct 5) meant to satisfy worldwide creditors, projecting the economy will stay in recession next year before returning to growth in 2017, in line with estimates by the country’s lenders.

“Unfortunately… these (bailout) measures should have been avoided”.

Tsipras emphasized that this problem was not unique to Greece – and that many other countries – both developed and developing had similar problems.

“People around the globe are striving for a better future for themselves and their children”. Even in their most hard moment they are assisting people in need. He was first elected to parliament in the May 2012 elections.

“We don’t believe that the future of Europe and our world can be constructed with increasingly higher walls of exclusion or with toddlers dying at our front door” he said during his speech, noting that our ancestors were refugees and migrants.

“This is an absolutely achievable target, provided we dare to carry out major reforms and changes”, Tsipras said during the first meeting of his new cabinet last week.

Of this, €10 billion is immediately available to be injected into the financial system once the European Central Bank has assessed the fallout of bank closures suffered by Greece at the height of the crisis this summer. The Syriza government is in coalition with the small right-wing populist party, the Independent Greeks, which hold 10 seats.

Awaiting the new Parliament is an intense legislative activity to pass reforms required by the 86-billion-euro ($96 billion) third bailout.