Germany Could Lose €80 Billion if Greece Goes Bankrupt

Head of Bundestag Committee on European Union Affairs predicts that Germany could lose billions of euros if Greece goes bankrupt.

Athens may not be able to return €80 billion of economic aid that it received from Germany in case of bankruptcy, Deutsche Welle wrote.

This was stated by the head of the Bundestag Committee on European Union Affairs, Gunther Krichbaum, during an interview with Leipziger Volkszeitung, due to be published on June 29.

Earlier it was reported that the Greek Prime Minister, Alexis Tsipras, announced an emergency meeting regarding the country’s debt issue.

Athens announced a July 5 referendum for voters to decide whether to accept the new bailout deal offered by the creditors. If the sides fail to reach an agreement, Greece may default on its debt and be forced to exit the Eurozone.

Greece has been holding talks with its international creditors on the settlement of the country's multi-billion dollar debt, as the current bailout program expires on Tuesday. The latest round of talks ended Saturday with no agreement.