New Greek Government Holds First Meeting

Greek Prime Minister Alexis Tsipras (front row
C) and members of his government pose for a
group picture after the first meeting of the new
Cabinet in the parliament building in Athens,
Jan. 28, 2015.

New Greek Prime Minister Alexis Tsipras says
he wants to reach a "fair, viable and mutually
beneficial solution" with its international
lenders as he begins to reverse the austerity
measures he says have led to a humanitarian
crisis in his country.
Tsipras said Wednesday in Athens during his
first meeting with his new Cabinet that he is
eager to avoid any destructive confrontations
with its creditors, but said Greece would no
longer blindly submit to the demands of the
European Union.
The new government is seeking to eliminate
some of Greece's massive debt and ease
austerity measures imposed on it in exchange
for more than $300 billion in loans, including
reversing sharp wage and pension cuts. It is
also canceling plans to privatize many of its
assets, including the sale of its main port of
Piraeus to Chinese shipping giant Cosco.
The recent moves sent Greece's financial
markets downward for a third straight day
Wednesday.
Tsipras officially took office Monday, a day after
leading his anti-austerity Syriza party to
sweeping victories in parliamentary elections,
and quickly joining with a smaller right-wing
anti-bailout party to form a government.
Greece's trio of international lenders - the
European Union, International Monetary Fund
and European Central Bank - has shown no
inclination it will renegotiate terms of the
bailouts. But the creditors said they will discuss
Greece's financial affairs with the new
government.
The leader of the eurozone's finance ministers,
Dutch Finance Minister Jeroen Dijsselbloem,
said he would visit Athens on Friday to meet
with Prime Minister Tsipras.