Greece: Bail Out or Fall Out

Talks over the Greek debt crisis entered a critical stage days after Prime Minister Tsipras paid a visit to Saint Petersburg, where he lashed out at EU austerity and said that Russia has a big role to play in Greece.

While in the former capital of the Russian Empire, Tsipras said that his country is pursuing a multidimensional foreign policy, and he also signed an agreement to extend the “Turkish Stream” gas pipeline to Greece under the name “Greek Stream”. Back in Europe, his government proposed minor cuts in social services in order to reach a better deal with its creditors, but the international financiers don’t appear to be budging.

While the Greek Stream gives Athens the promise of a future windfall in revenue, if a debt deal isn’t reached with the West soon, all hope of Eastern profits might simply evaporate.

Soren Liborious, spokesperson of the EU delegation in Russia(studio guest), James Drew, Production Editor at the EU Reporter(Brussels) and Anna Lyatsou, independent researcher and author(Greece) commented on the issue.