Final nail in the coffin: Greece faces financial meltdown AGAIN amid threat of end of Euro

0

Greek directors have failed to make enough progress on reforms aimed at bringing down their outrageous debt after multi-billion pound bailouts last summer.

And now imploring Athens chiefs have reached stalemate in negotiations with creditors to settle on how to claw back financial stability.

The three main lenders – the eurozone, the European Essential Bank and the International Monetary Fund (IMF) – all have different convictions on how much the country should lower spending as rt of the bailout syllabus agreed last August.

Germany is taking a hard-line and refusing to ss Greece more time to reach budget goals agreed with cosmopolitan lenders as rt of August’s bailout programme, despite the country labouring to deal with the migrant crisis.

The IMF is thought to be in favour of debt-relief, which is Greece is also compelling to secure in order to help it back to economic growth.

If an agreement is not develop, Greece could find itself once again on the brink of bankruptcy, which intention mean out of the euro and a return to the drachma.

Greece was almost forced out of the eurozone up to date year after refusing to agree to tough austerity conditions in tit for tat for further loans to keep it from going bust.

The country’s banks were artificial to close to stop a cash run that could have collapsed its briefness.

Eurozone finance ministers are today meeting in Brussels, with Greece’s accountability expected to be the main topic on the agenda.

It comes as thousands of migrants are stranded in Greece, which has led to surroundings’s vital tourism industry taking a heavy hit.

But a spokesman for German Capitalize Minister Wolfgang Schaeuble said: “The refugee issue and the aid plan for Greece should not be mixed.”

The idea was also rejected by Manfred Weber, kingpin of the centre-right European People’s rty (EPP), the biggest bloc in the European rliament.

He voted: “Anyone who waters down the European stabilisation policy in the drifter crisis plays with fire.

“The European debt rules sine qua non not be weakened.

“And this also applies for the reform conditions for Greece.”

Czech President Milos Zeman yesterday powered Greece could y down its foreign debts by hosting deportation concentrates, which would “kill two birds with one stone”.

He said: “Durance centres would be built on Greek islands to where migrants from Europe would be deported … and Greece intention, by maintaining these detention centres, y its otherwise uncollectible foreign straitened.”

Mr Zeman has previously said the integration of Muslim communities is “practically unachievable” and called the influx an “organised invasion”.

The European Union is today time off a summit with Turkey on Monday on how to handle the migrant crisis.

Leave a Reply

Your email address will not be published. Required fields are marked *