The President of European Parliament Martin Schulz has issued a dramatic warning to the Greek government, urging Athens to accept the agreement submitted by the institutions, or risk facing dramatic consequences.

In an interview for the Sunday edition of German newspaper Welt am Sonntag, Mr. Schulz stressed that the time available to the Greek government for reaching an agreement was running out

Although the European Union is prepared to come to a compromise agreement with the Greek government, the president of European Parliament noted that Greece’s creditors have already made certain concessions in the negotiations.

Finally, he underlined that Prime Minister Alexis Tsipras and his party SYRIZA must realize that they do not only answer to their voters, but rather to Greece and the European Union.