Alexis Tsipras, the leftist leader of Greece, met with Chancellor Angela Merkel on Monday in order to discuss the Greek debt. According to Tsipras, the debt is too large for the Greek economy to pay; the Greek prime minister is asking Chancellor Merkel to help increase economic aid to Greece so that it can pay off its debts.
Tsipras stated that Greece is in desperate need of short-term financial aid from the European Union. Without such aid Greece cannot make payments, Tsipras wrote in a letter to Merkel. The Financial Times obtained a copy of the letter, which was dated back in March 15.
The Greek prime minister argues that the lack of money markets and financial support makes it "impossible" for any government to repay its debt. He then states that small financial assistance to the Greek economy would help greatly.
Tsipras and Merkel met on Monday evening in Berlin, where Alexis Tsipras was welcomed with military honors. Despite Tsipras's attempts to receive financial support, Merkel has been pressured by both the public and government to enforce harsh economic policy with Greece in exchange for the distribution of funds. Tsipras and his Syriza party, however, came into office with a heavy anti-austerity platform. Any economic tightening goes against the promises Tsipras and his party made.
The European Central Bank has delayed disbursements of financial aid to Greece unless it agrees to employ austerity policies, which includes the selling of national ports, railways, and other assets as well as the cutting of public sector jobs. Since his election, Tsipras has not had much success in creating allies to aid Greek in its bailout.
Tsipras assures that the Greek government is intent on paying its debt, but also warns that without financial aid, large problems will arise. He promises that any aid to Greece will be beneficial to both the European Union and Greece.
