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FBN's Ashley Webster breaks down what the Greek PM's efforts are to revive the country’s financial and political life.
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Nine the right now.
Well Greek television is reporting that prime minister Lucas -- On a new financing plan Ashley Webster joins me now.
With the very latest details of the that the what the Greeks are doing here because yeah they're not doing enough that.
I don't know missed the public -- must must feel like Bill Murray in Groundhog Day every day wakes up it's the same thing.
Cannot get his own country's budget under control and he's also begging the international creditors to help them out.
He says he will be meeting with -- coalition party members tomorrow -- -- Prime Minister that is trying to get their backing for a new financial deal.
But it's not going to be easy he's also trying to work -- a deal with a private creditors he's trying to get the IMF and European Union.
To agree to a second bailout that so desperately needed in order for Greece to pay its bills and other big bill.
Comes due next month so he is likely fighting for -- financial and political life.
And it wasn't -- today when unions and employers sent a letter to the Greek government rejecting.
Calls for a slash in the minimum wage.
And full Greek salaries to be paid in fourteen installments instead of twelve -- private sector salaries aboard heaping -- 14%.
Public sector 10% but that's not all look at this on the some of these -- the Greek austerity measures.
Value added taxes like sales tax 23%.
Now from 21% public sector annual bonuses eliminated.
No big surprise that no bonuses for Greek lawmakers.
And a proposed 10% tax also now on fuel tobacco and alcohol -- this of course with unemployment running.
At 19%.
The very desperate difficult situation that just.
Quite frankly show is very -- to see the light at the end of the tunnel -- I tell you what I mean three years and -- this now three dinners and Italy Greece is no closer to solving the budget crisis and they were three years -- gunning.
What happens if frankly they do just get out of the Euro is that gonna be a relief to some of the creditors to -- Well may be and -- saying that.
Possibility being told about more and more in fact some analyst at some.
-- some research from what could happen Nomura by the way the financial companies said that they would expect immediately 16% to valuation.
Of the new dropped UBS analysts had a much more of bleak outlook they said that to Greece could be faced with.
Hyper inflation military coups and quite possibly.
A civil war but the Greek -- -- minister.
-- -- Venezuela us sent to parliament had just the other day that look we know the situation is desperate.
But the alternative I you dropping out of the Euro would be catastrophic -- he had this quote.
Yes the people have become -- yes we are living a drama yes -- -- -- -- living has gone down and yes it is a dramatic to be obliged to cut wages and pensions.
But what we could live through.
Is indescribable.
And so that kind of puts it -- out there -- either way you look at this Greece certainly.
Facing more pain and as you pointed out that show has been three years.
And the Greek people say what have we accomplished -- we've made with the sacrifices up to now and big enough to make a whole lot wall another gonna have to something aren't actually Webster thank you for covering the story --
