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Alexis Tsipras left open the scenario of rupture with creditors during a joint press conference with Austrian Chancellor Werner Faymann.

"If we reach an honourable compromise then the government and I will take on the heavy burden of the political cost to bring to an end the agreement. However, if we do not reach an honourable compromise the government and I will take the responsibility to say a big "no" to the continuation of a destructive policy for the Greek people," the Greek Prime Minister said in particular.

Alexis Tsipras also stated that he had submitted to the partners a comprehensive proposal that would ensure this year’s fiscal targets and would bring revenue of about 1% of GDP.

The Greek Prime Minister specified that the gradual abolition of early retirement that the government proposed to be in effect from 2016 until 2022 would save a total of 2.5 billion euro with progressive growth. He said however that savings of 1.8 billion euro could not be achieved in 2016 as demanded by the creditors but only of 300 million euro, which did not mean that serious reforms would not be implemented.

Tsipras also spoke of the partners’ incomprehensible insistence on reducing pensions, adding that Greece was a sovereign country and it would decide alone how to distribute the tax burden.

Werner Faymann assumes the role of mediator

Austrian Chancellor Werner Faymann said in turn that he would undertake to mediate for the successful completion of negotiations by the summit on 25 June.

He said he was sure that it was possible to reach a compromise that would not be humiliating for either of the parties, although this would require significant efforts over the coming days.

The Austrian Chancellor stressed that negotiations should take place between the institutions of creditors and the Greek government, adding that there should be a desire at the political level to achieve results.

Werner Faymann defined the efforts of European Commission President Jean-Claude Juncker as "sincere", adding that "respecting each other, we will be able to achieve an agreement that will allow Greece to extend the rescue programme."