Caught Between 'Grexit' and 'Hell No' — Greece Submits To Austerity's Knife

As Syriza-led government lobbies for support of its latest proposal, few envy position of leftwing government that stood up to Europe's financial elite

by Jon Queally, staff writer

After submitting a proposal for consideration by foreign creditors overnight, the Greek government of Alexis Tsipras on Friday presented the plan to a full meeting of Parliament, in hopes of securing backing for a plan that would keep Greece in the eurozone by exchanging long-term debt relief and further financial assistance for a new set of of harsh austerity programs and conditions.

"We are confronted with crucial decisions," a government official quoted Tspiras as telling Syriza lawmakers during the morning session. "We got a mandate to bring a better deal than the ultimatum that the Eurogroup gave us, but certainly not given a mandate to take Greece out of the eurozone."