21:42 GMT08 March 2021
Listen Live
    Europe
    Get short URL
    Greece's Gordian Knot: Syriza Tackles Austerity (404)
    564
    Subscribe

    German Chancellor Angela Merkel called the situation around the Greek crisis "extremely difficult."

    BRUSSELS (Sputnik) – The situation around the Greek crisis is extremely difficult, German Chancellor Angela Merkel said Sunday.

    “The situation is extremely difficult…We have very difficult talks ahead, we won’t agree on just any conditions,” Merkel said ahead of the Euro Summit in Brussels.

    Earlier on Sunday, President of the European Council Donald Tusk said that the summit for the eurozone leaders to discuss the Greek economic crisis, scheduled to start at GMT 14:00, will last until the talks are concluded.

    Greece's overall debt is estimated at some $350 billion, of which $270 billion is owed to the European Central Bank, the International Monetary Fund and eurozone countries

    Greek Prime minister Alexis Tsipras (L), German Chancellor Angela Merkel (2ndL), European Commission President Jean-Claude Juncker (2ndR) and French President Francois Hollande (R) meet at the European Union (EU) headquarters in Brussels on July 7, 2015
    © AFP 2021 / POOL / PHILIPPE WOJAZER
    On July 5 referendum, more than 61 percent of the Greek voters refused to accept the creditors-proposed bailout plan that stipulated austerity reforms in exchange for new loans. On Thursday, the Greek government submitted its own reforms plan, which includes significant spending cuts, to the creditors.

    On Saturday, German media reported, citing a Finance Ministry document, that Berlin saw Athens’ proposals as insufficient and lacking important clauses on modernization and economic growth. The document suggests that Greece may have to temporarily leave the eurozone while still remaining the member of the European Union.

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

    Related:

    Greece Needs Short-Term, Future Reforms to Begin Economic Negotiations
    European Commission Unlikely to Get Mandate for Greek Debt Talks Today
    Several Issues Still Disputed at Eurogroup Talks on Greece
    Greece Finished? Finland MPs Want Greece to Withdraw From Eurozone
    Tags:
    bailout program, Angela Merkel, Germany, Greece
    Community standardsDiscussion