07:54 GMT +319 October 2019
Listen Live
    The future of the Eurozone could be in danger if the Eurogroup and Greece fail to reach an agreement to settle the Greek debt crisis, President of the European Parliament Martin Schulz said Monday.

    Eurozone Could 'Fall Apart' Amid Greek Crisis - EU Parliament Chief

    © REUTERS / Pawel Kopczynski
    Europe
    Get short URL
    Greece's Gordian Knot: Syriza Tackles Austerity (404)
    0 61
    Subscribe

    The future of the Eurozone could be in danger if the Eurogroup and Greece fail to reach an agreement to settle the Greek debt crisis, President of the European Parliament Martin Schulz said Monday.

    MOSCOW (Sputnik) — Athens owes about $270 billion to its primary international creditors. The European leaders are currently continuing the marathon talks aimed at establishing the terms of additional financial aid to Greece.

    "…Brussels is on the cutting edge, and that is why the Eurozone could fall apart," Schulz said in an interview with the German Deutschlandfunk radio.

    Schulz said that negotiations in Brussels were difficult, complicated and confrontational, and expressed hope that the sides would be able to agree on a bailout deal.

    On Sunday, the Eurogroup held a summit on the Greek issue, and arrived at a compromise agreement that recommended EU leaders propose to Greece a temporary exit from the Eurozone in case the sides fail to reach an agreement.

    Greece has long been trying to unlock additional financial aid in order to avoid defaulting on its $350 billion debt.

    In late June, Greece broke off negotiations by rejecting a bailout agreement proposed by its money lenders and announcing a nationwide referendum on the issue.

    On Thursday, Athens presented a revised economic reform plan that included some of the creditors' key requirements.

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

    Related:

    EU Cannot 'Force Greece out and Keep Romania in' – Attica Governor
    Entire Europe to Benefit From Agreement on Greek Crisis - Hollande
    Eurozone Leaders Reach Agreement on Greek Economic Crisis - Belgian PM
    Snap Elections Possible if Greece Fails to Agree With Creditors - Minister
    Tags:
    debt crisis, euro, Eurozone, European Parliament, Martin Schulz, Greece
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik