Lenders' reaction to pension pledge leaves Tsipras short of options

PoliticsGreek Politics Tags: Austerity, Debt, ESM, IMF, Reforms, Tsipras
Photo by Panyiotis Tzamaros/Fosphotos
Photo by Panyiotis Tzamaros/Fosphotos

Greece’s negotiations with its lenders became more complex on Wednesday when the European Stability Mechanism revealed that it has put on hold the implementation of short-term debt relief measures agreed at this month’s Eurogroup because of doubts regarding the benefits for pensioners announced by Prime Minister Alexis Tsipras last week.

The ESM confirmed in the afternoon that the debt relief process has been put on hold as the institutions are examining whether Tsipras’s pledge to give 617 million euros from Greece’s excess surplus to pensioners and to freeze the rise in VAT on the nor...

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