06:26 GMT09 August 2020
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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    Despite any results of the Greek austerity referendum, the sides will have to return to the negotiating table, Italian Prime Minister Matteo Renzi said Sunday.

    ROME (Sputnik) — Greeks are set to decide whether to accept the country’s lenders’ new bailout terms during a referendum on Sunday.

    “Speaking about the reaction toward the referendum and the negotiations, which will begin the next day, independent of the result we will work closely with our European partners,” Renzi told Il Messaggero newspaper.

    Renzi expressed confidence that the sides would be able to solve the Greek crisis, but once again highlighted that Athens must implement serious structural reforms.

    Greek national 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.

    Until the end of July, Athens has to pay about $7 billion to the IMF, the European Central Bank and treasury bill holders. Earlier in the month, the country has already defaulted on the IMF.

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

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    Tags:
    bailout program, referendum, Eurozone, Matteo Renzi, Italy, Greece
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