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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    US President Barack Obama and German Chancellor Angela Merkel reviewed recent economic developments in Greece over the phone.

    WASHINGTON (Sputnik) — US President Barack Obama and German Chancellor Angela Merkel discussed  restoring Greece’s troubled economy and growing it within the Eurozone over the phone on Wednesday, the White House said in a statement.

    “They also reviewed recent developments in Greece and efforts to reach a pragmatic agreement that builds upon recent reforms to return the country to growth within the euro area,” the statement read.

    Greece has borrowed 240 billion euros ($265 billion) under two aid packages from the European Union, the European Central Bank (ECB) and the International Monetary Fund (IMF) under austerity measures imposed on the country.

    However, following the January victory in the Greek elections, the Syriza party announced it would abandon its austerity obligations.

    Last Thursday, Wolfgang Schaeuble, Germany's finance minister, said he could not “rule out” the possibility of Greece leaving the Eurozone.

     

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

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    Greek economy, austerity measures, Angela Merkel, Greece
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