17:23 GMT16 July 2020
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    Greece's Gordian Knot: Syriza Tackles Austerity (404)

    The Eurogroup continues to "extend its hand" to Athens and is ready to return to negotiations on the Greek bailout plan, Austrian Finance Minister Hans Joerg Schelling said Sunday.

    BERLIN (Sputnik) — The Austrian finance minister said that by holding the bailout referendum, the Greek government was shifting responsibility onto the people.

    On Sunday, Greek voters are to determine whether Athens should accept the lenders-proposed bailout plan that envisages serious spending cuts and tax increases in exchange for additional financial assistance.

    "Our hand is stretched out for Greece. It is crucial that the Greek government finally says what it really wants and that it takes a clear stance in support of that decision both in public and at talks. Then we can immediately return to the negotiating table," Schelling told the German Welt am Sonntag newspaper.

    He believes, however, that the Greeks will vote Yes, because they "know that it is not just about the future of euro, but also about the future of Greece and, thus, about their own future."

    Greece is one of the countries hit worst by the 2008-2009 financial crisis. The country’s overall debt stands at about $350 billion, of which $270 billion is owed to the European Central Bank (ECB), the International Monetary Fund (IMF) and some eurozone countries.

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


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    debt crisis, referendum, Eurozone, Eurogroup, Hans Joerg Schelling, Austria, Greece
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