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Greek PM urges IMF to decide on bailout

Monday, September 11, 2017 - 01:48

Greece is calling on the International Monetary Fund to decide whether it will fund Greece's current bailout programme by the end of the year and help Greece conclude a key bailout review on time. As Sonia Legg reports, the Prime Minister is trying to appease a Greek public worn out by austerity and sceptical after years of reform efforts have failed to fix the country's woes.

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They're fed up with austerity and sceptical about reform. It's done little to improve the lives of most Greeks and political pressure is growing. (SOUNDBITE) (Greek) UNEMPLOYED THESSALONIKI RESIDENT WHO DID NOT WISH TO GIVE HER NAME, SAYING: "What do I expect from Mr. Tsipras? I expect to live - me, the families of these 1400 workers who have been thrown out on the streets. " The Prime Minister is trying to show he's listening. He's vowed to support workers, young Greeks and small businesses. (SOUNDBITE) (Greek) GREEK PRIME MINISTER, ALEXIS TSIPRAS, SAYING: "A large part of the population has been denied not only the basics, but even the right to dream. Unfortunately that is what is happening to many young people, who are either suffocating in their own country or emigrating. That has to stop." Greece's current international bailout expires next year. Alexis Tsipras' term in office ends a year later. He's now calling on the IMF to decide by the end of this year whether it will contribute. (SOUNDBITE) (English) : KEN ODELUGA, MARKET ANALYST, CITY INDEX, SAYING: "The main consideration for the IMF is that they remain to be convinced that Greece and the current program have the wherewithal to bring about the desired outcome for Greece to come out of any sort of assistance and for Greece to get back on its feet." Last week Tsipras got a boost from the French President. Emmanuel Macron hopes more countries will see investment opportunities in Greece so China has some competition. (SOUNDBITE) (English) : KEN ODELUGA, MARKET ANALYST, CITY INDEX, SAYING: "There are many, many businesses in the stock market that have remained largely on track. I wouldn't necessarily say it's the first market that you choose but certainly it's quite remarkable that the financial system has not grown to a standstill." But Greece has a big hill to climb. Since 2010 austerity has wiped out a quarter of Greece's output and more than one in five workers are unemployed.

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Greek PM urges IMF to decide on bailout

Monday, September 11, 2017 - 01:48