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The "obsession" of the institutions, known formerly as the Troika (IMF, EU, ECB), with fiscal cuts that have clearly failed and their persistence to push such measures cannot be accepted, Greek Prime Minister Alexis Tsipras stated during a speech in Athens, Tuesday. He added that the austerity measures could not be implemented as a result of "excessive zeal" and was clearly a plan to humiliate the Greek government. He added that this would not be an issue, accept for the number of people that have suffered under austerity. Tspiras' comments come after The President of the European Commission Jean-Claude Juncker claimed that Tsipras had misled the Greek public by misrepresenting the proposals made by the European Commission (EC). Since Syriza's election, Greek authorities and the institutions have been negotiating for five months to unlock the €7.2 billion ($8bn) of rescue funds it needs to pay the IMF. The bailout extension ends on June 30. If Greece fails to meet the deadline, it faces default and exit from the eurozone. The quarrel between Greece and its creditors has made the prospect of a deal being struck at Thursday's eurozone finance ministers' meeting less likely.


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