18:47 GMT +317 August 2017
Live
    German federal chancellor Angela Merkel, talks with Greek prime minister Alexis Tsipras

    If Euro Fails, Europe Fails: Merkel Urges Compromise as Greek Default Looms

    © AFP 2017/
    Politics
    Get short URL
    Greece's Gordian Knot: Syriza Tackles Austerity (404)
    1187565

    Ahead of Greece's debt repayment deadline, German Chancellor Angela Merkel warned the European Union that losing its ability to compromise equated to dismantling Europe, underlying the need for everyone to pull their weight.

    MOSCOW (Sputnik) — Merkel warned that "if the euro fails, Europe fails," as quoted by Germany’s N24 channel.

    "It is existential for our ability to compromise that we stand united. But everyone must contribute."

    Merkel was speaking at a celebration marking the 70th anniversary of the founding of the Christian Democratic Party (CDU), of which she is a member.

    The jubilee was overshadowed by Greece's looming default on its debt to the International Monetary Fund (IMF), due on June 30. Greek authorities said previously that they had no money to make the payment.

    Eurozone finance ministers refused on Saturday to extend the current bailout program beyond the end of June, after Greece dropped out of talks with its creditors and called a referendum on the bailout terms for July 5.

    If Greece defaults, it could be forced to leave the single currency monetary union and possibly the European Union.

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

    Related:

    EU's Juncker 'Betrayed' Amid Criticism Over Greek Financial Crisis
    Hollande Hopes Greece Bailout Talks Continue, Still Time to Reach Deal
    Kremlin Concerned Over Greece's Possible Default, Negative Outcome for EU
    Tags:
    European Union, debt talks, economy, default, Eurozone, Angela Merkel, Germany, Europe, Greece
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment