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    Not Grexit, But More Austerity 'Suicidal' for Athens - Syriza Lawmaker

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    Greece's exit from the eurozone, compared to the social pain of maintaining austerity policies, is a better option, the country's ruling Syriza party lawmaker and Chairman of Committee on Economic Affairs, Stefanos Samoilis, told Sputnik Turkey on Friday.

    MOSCOW (Sputnik) — According to the lawmaker, a potential Greek exit from the eurozone would be much more painful for the European monetary union than for Athens.

    Addressing the assertion that a Grexit would be suicidal for the country, Samoilis said, "I don't agree with this view. I don’t think anything other than the continuation of austerity policies is suicidal for Greece."

    If Greece's creditors insist on unsustainable policies bringing more people to the brink of poverty, the government will explore other options and "democratically decide which way to go forward," Samoilis added.

    FILE - In this Tuesday, May 11, 2015 file photo, a protester looks under part of a banner that reads, 'Out of Euro and European Union', during a rally demanding a debt write-off in Athens
    © AP Photo / Thanassis Stavrakis, File
    Greece's total debt is currently estimated at around $350 billion, with $270 billion owed to three of its major creditors that include the European Union, the European Central Bank and the International Monetary Fund.

    Athens and the three main lenders seek to find the solution to the Greek debt crisis prior to the June 30 expiration of the 2011 bailout program.

    Greece and its lenders have so far refused to accept each other's proposals on unlocking additional aid in exchange for economic reforms and austerity measures, in order to avoid default and a possible exit from the eurozone. The latest talks on the issue took place on Thursday and failed to bring results.

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)

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    Tags:
    European Union, Greek debt, austerity measures, Syriza party, Eurozone, Stefanos Samoilis, Greece
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