“Perhaps, we will have to provide Greece with emergency loans [for Athens to be able] to surpass the crisis so that the state services could be kept and low-income people could get the money they need to survive. Brussels will have funds available for this purpose in a short-term period,” Schulz told the German Welt am Sonntag newspaper.
Schulz added that the European Union would not abandon the Greek people in this difficult period regardless of the results of the Sunday referendum.
He said, however, that the last bailout proposal Athens received from international creditors was “already very generous.”
Greece's overall debt stands at about $350 billion, of which $270 billion is owed to the European Central Bank (ECB), the International Monetary Fund (IMF) and some Eurozone countries.
The country’ leadership, including Prime Minister Alexis Tsipras, find the bailout conditions “humiliating” and urge citizens to vote against the proposals.