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| Greece will not default on bailout debts - PM Tsipras | |
| (35 minutes later) | |
| New Greek PM Alexis Tsipras says his country will not default on its debts. | |
| Addressing his first cabinet meeting since being elected on Sunday, the left-wing Syriza party leader said he would negotiate with creditors over the €240bn (£179bn; $270bn) bailout. | |
| Saying his first priority was to help those in need, Mr Tsipras promised "realistic proposals" for an economic recovery and vowed to fight corruption. | |
| The EU has warned his government to stick to its creditor commitments. | |
| As the newly-elected leader of the radical left party made his inaugural cabinet speech, Greek 10-year bond yield rose above 10% - reflecting investors' concerns about short-term risks of a debt restructuring over the coming months. | |
| "We won't get into a mutually destructive clash but we will not continue a policy of subjection," Mr Tsipras told the televised cabinet meeting. | |
| The troika of lenders that bailed out Greece - the European Union, European Central Bank and International Monetary Fund - imposed big budgetary cuts and restructuring in return for the money. | |
| Vowing to defend Greek dignity, Mr Tsipras said a renegotiation of the Greek debts would be in search of "a viable, fair, mutually beneficial solution". He did not give any details. | |
| His recovery plan - involving reform and changes, in addition to fighting tax evasion - was aimed at preventing deficits in the future. | |
| The Greek government's chief economics spokesman, Euclid Tsakalotos, has argued that it is unrealistic to expect Greece to repay its huge debt in full. | |
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