Greece’s new proposal to the EU and IMF involves increasing the rate at which they pay back their loans from the ‘minimum repayment’ to a ‘living repayment’.
With the nation under increasing pressure to improve its debt situation, Greek prime minister Alexis Tsipras said he had been given the inspiration for the new policy from another EU country.
He told reporters, “What we have seen is that you can take one very small amount of money, which is known as the minimum, then replace it with another very small amount of money and call it the ‘living’ amount.”
“This is enough to make the recipient of that money very happy from what we have been told by our EU partners.”
“The UK assured us this guaranteed to work. I mean, if it worked for George Osborne then it will obviously work for us too, no?”
Greek debt repayments
However the proposal has been rejected by Eurogroup President Jeroen Dijsselbloem.
He told us, “Do they think we’re stupid? What sort of moron would look at the simple renaming of a tiny amount of money and think it makes any difference whatsoever to how much it actually is?”