12:47 GMT19 January 2021
Listen Live
    Get short URL
    0 510

    "We have learned to build walls to protect ourselves, to protect the banking system, to protect other countries which could become fragile, if something happens in Greece. Europe has sheltered itself from turbulence," French Financial Minister Michel Sapin said.

    Eurozone nations will not be hurt by the Greece's financial problems because they have built effective protective mechanisms, French Financial Minister Michel Sapin said during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington.

    "If something damaging happens, it will be for Greece that it will be serious, for the Greek people, not for the other countries of the Eurozone. We are not all in the same situation that we were in four or five years ago," Sapin said.

    "We have learned to build walls to protect ourselves, to protect the banking system, to protect other countries which could become fragile, if something happens in Greece. So Europe is much stronger. Europe has sheltered itself from turbulence. The danger is for Greece," he added.

    According to Sapin, "Greece must respect the rules that apply to all countries in the Eurozone."

    The Greek government and creditors – the European Union and the IMF — are in talks over a 7.2 billion euros bailout program for the country. When the issue is settled, they plan to start negotiations on the restructuring of the Greece’s debt. The creditors demanded from Athens to lay out a detailed reform plan which would allow averting deficit. The talks on an interim agreement is scheduled to April 24.


    Greece Willing to Compromise to Avoid 'Grexit'
    Greece Will Not Return to Belt-Tightening Policy
    Eurozone Countries See No Progress in Reform Talks With Greece
    European Commission Sticks to Keeping Greece in Eurozone – Source
    debt, bailout, talks, Eurozone, Michel Sapin, Greece
    Community standardsDiscussion