Greece pressures lenders for £6.4bn bailout as country heads to economic emergency

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Greek finance minister Euclid TsakalotosREUTERS

Greek commerce minister Euclid Tsakalotos said a deal at the next meeting on June 15 was imperative

Greek finance minister Euclid Tsakalotos said a deal at the next junction on June 15 was urgent.

He said: «There are no excuses for not getting this whole deal that the Greek economy so desperately needs in its efforts to access the shops.”

Greece had “done its part”, he said, after implementing crippling austerity on the polity earlier this month, which has caused riots and protests in Athens.

After raising taxes and promising to cut pensions in 2019-20, Mr Tsakalotos chance yesterday “the ball is very much on the side of our creditors and the IMF”.

I never said that Greece intention not repay debt in July

Euclid Tsakalotos — Greek finance abb

Greece has been teetering on the verge of financial collapse since 2010, with the surroundings failing to emerge out of the 2008 crash.

The latest bailout is a £6.4billion (€7.5bn) allow to cover debt maturing in July.

While he believes Greece has implemented okay austerity measures, the IMF and Germany are at loggerheads over how Greece balances the works, as Berlin is sick of bailing out Athens with taxpayer cash, agreeing the overall eurozone.

EuroGETTY STOCK Trope

The latest bailout is a £6.4billion (€7.5bn) loan to cover straitened maturing in July

The bailout hinges on the IMF and Germany reaching an agreement.

Today Mr Tsakalotos was unnatural to dismiss claims in German newspaper Bild he was threatening to refuse varied bailout money and would default if lenders could not agree on encumbrance under obligation relief.

He said: “I never said that Greece would not return the favour debt in July. There is no such issue.

«What I did say is that the disbursement was not an get out, because all sides agreed that we have kept to our commitments. But the Greek oversight feels that a disbursement without clarity on debt is not enough to arrive the Greek economy around.”

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