16:52 GMT +316 December 2019
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    A Greek flag waves in the breeze at Acropolis hill, in Athens on June 5, 2015

    Greece Can Cope Without More Bailout Extensions

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    Greek government spokesman Gabriel Sakellaridis said that country does not need further extensions to the bailout program as Athens hopes to reach an agreement with its international creditors soon.

    ATHENS (Sputnik) Greece does not need further extensions to the bailout program as Athens hopes to reach an agreement with its international creditors soon, Greek government spokesman Gabriel Sakellaridis said Monday.

    "The issue of extending the program is not what meets the actual demands of the economy," Sakellaridis said, adding that the Greek delegation is now in Brussels looking to reach a bailout agreement that would suit both sides.

    He added that the government should resolve its financial issues, including budget deficit, in the medium-term.

    The spokesman also stressed that Greece has no plans to leave the eurozone.

    Earlier this month, Athens delayed its repayment to the International Monetary Fund (IMF), sparking fresh fears that the cash-strapped country could default and return to its national currency.

    Greece owes some $270 billion to its three biggest lenders, the IMF, the European Union and the European Central Bank, after first agreeing on a bailout plan in 2011.

    The program is set to expire on June 30 after Prime Minister Alexis Tsipras’ newly-elected government negotiated a four-month extension to the deal with EU finance ministers in February.

    Greece is currently in talks with the European Union to unlock the final package of financial aid, worth some $8 billion, in exchange for economic and social reforms.

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    International Monetary Fund, European Union, Alexis Tsipras, Greece
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