Tsipras Cites Blackmail as Merkel Prods Greece to Take Offer
Greece Rejects Creditors 5-Month Extension Proposal
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German Chancellor Angela Merkel pressed the Greek government to accept a “generous” offer made by creditors, as Prime Minister Alexis Tsipras lamented the terms demanded in return for aid.
Euro-area finance ministers are due to meet on Saturday to try and hammer out an agreement with Greece, armed with a proposal by creditors to unlock as much as 15.5 billion euros ($17.3 billion) and extend Greece’s program through November. The offer is completely inadequate and not acceptable, a Greek government official said in an e-mail to reporters.