Tsipras assembles cabinet on eve of crucial EU Summit

First entry: 21 June 2015

Greece’s cabinet will huddle with the prime minister on Sunday to map out its strategy for a meeting the next day that will decide the nation’s future in Europe’s currency bloc.
On the agenda at the meeting in Prime Minister Alexis Tsipras’ residence is whether to compromise on election promises in order to avoid a default on its debt.
“Austerity must end,” government spokesman Gabriel Sakellaridis said after Greek negotiators ended a meeting on Saturday. “A different Europe is necessary, a different Europe is possible.”
With markets closed, the weekend gives negotiators some room to lay out a roadmap for what will be a high-stakes week with an emergency summit of EU chiefs on Monday in Brussels. The clock is running down on a June 30 deadline to make payments and work out a new deal amid disagreements on pensions, sales tax and spending targets.
In a sign that Greece may not bend to creditor demands, Minister of State Nikos Pappas said red-lines include no cuts to pension plans and wages, and a comprehensive review of the country’s onerous debt load.
The Frankfurter Allgemeine Sonntagszeitung newspaper said Greece may gain an extension of the current aid program to at least September as well as some funds, provided that Greece agrees to EU Commission proposals. It didn’t cite anyone.
Bloomberg