07:54 GMT12 April 2021
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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    The Russian economic development minister commented on the possibility of Grexit from the Eurozone.

    MOSCOW (Sputnik) — The chances of Greece leaving the Eurozone are substantial, but are less than 50 percent, Russian Economic Development Minister Alexei Ulyukayev said Tuesday.

    "Nobody could say how high they [risks of Greece leaving the Eurozone] are, and when they could materialize… In my opinion, they are substantial, they are less than 50 percent, though, but they are substantial," the minister told journalists.

    On Sunday, more than 61 percent of Greek voters rejected in a referendum austerity measures proposed by Athens' major international creditors — the European Central Bank, the International Monetary Fund and some Eurozone nations.

    The measures, rejected by the country’s government, included pension cuts and increased taxes.

    Ahead of the referendum, many European economists expressed opinion that Greece may be forced to leave the Eurozone in the event of a "No" vote, as the support of European credit institutions might be withdrawn.

    Should such a situation transpire, Greece will be forced to reintroduce its own currency to keep its economy functioning, which will effectively mean a Grexit.

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


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