11:23 GMT27 February 2021
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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    French President Francois Hollande made a statement concerning his views on Greece leaving the Eurozone.

    BRUSSELS (Sputnik) – There will be no temporary Grexit, French President Francois Hollande said Sunday.

    “There will be no temporary Grexit. There’s a Grexit or no Grexit, or if to say in French, there’s a Greece in the Eurozone, or there’s no Greece in the Eurozone, but in this case Europe will take a step back and will not move forward again,” Hollande said ahead of the Euro Summit in Brussels.

    The news comes a day after German media reported that the country's Finance Ministry was considering two possible scenarios to resolve the Athens debt crisis: either Greece improves its reforms proposals or the talks begin on the country’s five-year exit from the eurozone.

    German Chancellor Angela Merkel (R) arrives for a meeting of European Popular Parties (EPP), on July 12, 2015, in Brussels
    The eurozone leaders convened on Sunday in Brussels to discuss the Greek economic crisis. Simultaneously, a meeting of the eurozone finance ministers is taking place in the city. The Eurogroup is trying to reach an agreement on launching talks on Greece’s new bailout.

    The July 5 referendum, in which the Greeks voted against the last bailout deal, sparked a new wave of speculation about Athens’ possible exit from the eurozone.

    On Thursday, Athens presented a revised plan that includes some of the creditors' requirements, including tax cuts and pension reforms.

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


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    France, Grexit, Eurozone, Francois Hollande, Greece
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