Athens: Economic powerhouses Germany and China warned Greece yesterday against reneging on reforms tied to its massive international bailout, with markets still jittery over fears Athens could default on its debt. Germany, which has shouldered most of the multi-billion-euro EU rescue plan for Greece, said the country’s new anti-austerity government could not make changes “to the detriment” of other European citizens.
China, which has a major investment in the main Greek port of Piraeus, said it was “highly concerned” after the government of 40-year-old Prime Minister Alexis Tsipras abandoned plans to privatise the harbour, one of Europe’s busiest. On its first day of business on Wednesday, Tsipras’ “national salvation” administration rolled back several austerity reforms, including the privatisation of the ports of Piraeus and Thessaloniki, main electricity provider PPC and petroleum refiner HELPE.
Tsipras, leader of the Syriza party which swept to victory in Sunday’s election, also underlined his determination to achieve sweeping cut in debts stemming from Greece’s $269bn bailout programme. AFP
