Tsipras Slams Austerity at EU as Greece Requests New Bailout

Greek Prime Minister Alexis Tsipras called for the eurozone to reach a deal with sustainable solutions to the Greek crisis in a speech at the European Parliament Wednesday, saying the “austerity laboratory” that Greece has become has been a failure for the country’s people.

“The simple fact is that we have to face and accept that the majority of the Greek people feels that they have no other choice other than to demand that they be given a way out of this impasse and this dead end," said Tsipras, adding that poverty and public debt have soared with the austerity “experiment” imposed on Greece.

The majority of Greek people feel that there is no other choice but to stop treading this road to nowhere. #EPlenary #Greece #olomeleiaEK

— Alexis Tsipras (@tsipras_eu) July 8, 2015

My country was used to experiment with austerity. The experiment, we must admit, failed. #Greece #EPlenary #olomeleiaEK #Eurosummit

— Alexis Tsipras (@tsipras_eu) July 8, 2015

Tsipras, who maintains that the Greek peoples' rejection of creditors' bailout terms in a recent referendum does not mean an exit from the euro, stressed that solving the Greek debt crisis concerns the whole eurozone.

“I want your support to help change Greece ... We all understand that this debate is not exclusively about one country. It is about the future of our common construction, the EU and Europe,” he said.

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While acknowledging Greece's role in its own crisis and chronic economic issues such as tax evasion, Tsipras also said that the “fiscal strangehold” enveloping Greece has meant the Syriza-led government has been forced to spend most of its time negotiating and “thinking about how to keep the economy alive” since its election five months ago.

Previous governments created clientelistic state, furthered corruption & strengthened ties to economic elite. #Greece #EPlenary #Eurosummit

— Alexis Tsipras (@tsipras_eu) July 8, 2015

The Greek leader said new and specific proposals from Greece will be delivered Thursday, including measures to combat unemployment and cover the country’s financial needs without burdening European taxpayers.

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The parliamentary chamber hearing speeches from Tsipras and his EU counterparts was filled with a mix of support and cold-shoulders for Greece. Some held Greek OXI signs in support of the Greek people's “no” referendum vote against more austerity.

Tsipras received strong support from Spain’s Podemos leader Pablo Iglesias, who slammed European and German “arrogance” and blamed it for tearing apart the EU. Iglesias also gave Tsipras a standing ovation following the Greek leader’s speech.

Podemos' leader @pablo_iglesias_ stands up to give an ovation to Tsipras in the EP #Greece #Grecia pic.twitter.com/whit2gyJp5

— María Tejero Martín (@Maria_Tejero) July 8, 2015

Meanwhile, Greek Finance Minister Euclid Tsakalotos submitted a new bailout request, asking for a three-year aid package with immediate reforms in Greece in exchange for debt relief. Tsakalotos promised to provide complete proposals on Thursday, noting Greece is prepared to implement reforms immediately.

Greece became an experimental field of austerity. We must look reality in the face: the experiment has failed and will not be repeated!

— Euclide Tsakalotos (@EuclideTsakalo) July 8, 2015

European Council President Donald Tusk stressed that time is running out to finalize talks.

“Today we need unity, not because unity is a beautiful idea, but because it is indispensable in order to take concrete decisions,” said Tusk.

Germany has set an ultimatum for Greece and Europe to reach a bailout agreement by Sunday or move on to considering other options, which could include pushing a Greek exit from the euro.

"If we don't come to a solution on this by the weekend, by Sunday, then, if necessary, we'll have to think about other scenarios," German Finance Ministry spokesperson Martin Jaeger said Wednesday.

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Despite the international pressure, Tsipras remained confident about reaching a deal and urged his EU counterparts to compromise political differences to come out of the crisis.

“We have ideological differences, we are divided on issues,” he said, “but this is a crucial time to be able to pool our forces.”