Greek government will seek 'common ground' - EU's Schulz

Athens, 29 january 2015 (MIA) - European Parliament President Martin Schulz has said the new Greek government will seek "common ground" with its European partners as it tries to renegotiate its financial bailout.

Speaking after meeting Greek PM Alexis Tsipras, Mr Schulz said he expected "robust" discussions on the issue, the BBC reports. 

It comes amid concerns over steps by Mr Tsipras to halt austerity measures following Syriza's election victory.

European leaders have insisted Greece must meet its debt obligations.

Mr Tsipras has said he wants to renegotiate the terms - but insisted there will be no Greek default, which is feared may push Greece out of the eurozone.

Greece has endured tough budget cuts in return for its €240bn (£179bn; $270bn) bailout, negotiated in 2010 with the "troika" - the EU, International Monetary Fund (IMF) and European Central Bank (ECB).

Its economy has shrunk drastically since the 2008 global financial crisis, and high unemployment has thrown many Greeks into poverty.

Greek bank stocks edged up on Thursday a day after dipping sharply as the government shelved privatisation schemes required under bailout terms.

After talks with the Greek PM, the European Parliament president said he expected any discussions to be difficult but that Greece would work with others in Europe.

"I found out that the government of Alexis Tsipras doesn't think about acting alone," he said.

"It is thinking about making proposals and expects that these proposals will be discussed in a fair and co-operative process to find a solution. I think this is a very good message. I am quite sure that these discussions will be very robust.