22:38 GMT08 May 2021
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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    Greece must take a decision regarding the agreement with its creditors as Athens is solely responsible for its debt, International Monetary Fund (IMF) head Christine Lagarde told the IMF board, media reported Wednesday.

    MOSCOW (Sputnik) – According to Greek television channel Mega, Lagarde in her address to the IMF board on Tuesday reiterated thrice that "the responsibility is on the Greeks," adding that a solution to the bailout issue must be found.

    Greece should remain in the eurozone; and the resolution of this issue is of geostrategic importance for the European Union, Lagarde said.

    Greece was particularly hard-hit by the aftereffects of the 2008 economic crisis, quickly going into a multibillion debt due, in part, to lending practices of the International Monetary Fund, the European Union and the European Central Bank.

    The country must implement unpopular economic reforms to receive additional financial aid. The reforms must be enforced prior to the June 30 expiry of the existing bailout plan.

    On Tuesday, media reported that Greece's creditors had drafted a deal to unlock a bailout package for the country’s government.

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


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