EU Parliament president warns Athens of dramatic consequences if talks fail

European Parliament President Martin Schulz urged Greece in a newspaper interview to accept a proposal by its international lenders for a cash-for-reforms deal, warning Athens that failing to reach an agreement would have "dramatic" consequences. The European Union is willing to compromise with the Greek government, Schulz told German newspaper Welt am Sonntag in an interview published on Sunday, adding that the lenders had already made concessions in the debt negotiations. "I can only warn the Greek government against turning down the hand held out to them," Schulz, who has been supportive of Greece's cause, said.

EU Parliament president warns Athens of dramatic consequences if talks fail source: http://finance.yahoo.com/news/eu-parliament-president-warns-athens-071735292.html