Greece: Beggar or Bankrupt state ?





Greek prime minister Alexis Tsipras agreed to meet with Russian presidentVladimir Putin at the St Petersburg International Economic Forum in mid June after they both held phone call today. They are expected to have bilateral meeting on the sidelines of the forum, and the topics on the agenda of the meeting would be Greece's debt crisis and Greece's BRICS bank membership.

Tsipras would likely ask Russian side for financial assistance to make the payment within timeframe to the international creditors; he will also further discuss with Russia's Putin on the proposal to join BRICS bank.Recently, Russia surprisingly has invited Greece to join BRICS Development Bank, yet it remains skeptical about what is real intention behind the invitation of Greece to join BRICS Bank.
The diplomatic relations between Greece and Russia becomes more cemented after Anti-austerity prime minister came to power in January. After he was sworn into office, in April Tsipras decided to visit Russia as his first official oversea trip; Tsipras told president Putin that his government also stands against the sanctions imposed by the west against Russia on Ukraine crisis , saying that the sanctions against Russia will lead to the new Cold War in Europe.

During his trip to Russia, Tsipras didn't ask Russia for financial aid, but Kremlin promised to still stand firmly to support Greece's government to resolve their debt burdens by not giving Greece directly money but by buying Greek state assets.
It is true that Greece is not a beggar, but this time it has to make sure it can avoid the debt default and becoming the bankrupt state by clearing all debts before 30th June.The significant progress has so far not been made by Greece and European leaders during the recent talks, and Greece itself can't guarantee that the comprehensive agreement containing the Greek reform proposal will be reached by parties before 30th.

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