05:59 GMT08 March 2021
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    Financial crisis in Greece (197)

    Only implementation of financing reforms will allow Greece to remain part of the Eurozone, White House Press Secretary Josh Earnest said in a briefing on Monday.

    WASHINGTON (Sputnik) — The Greek government has been clashing for months with Brussels and its major money lenders in Paris and Berlin, who want Athens to increase taxes and cut welfare spending.

    “All parties seem to be publically indicating that they would like to resolve this situation in a way that allows Greece to remain part of the Eurozone. The only way that that will happen is to agree to a package of reforms and financing that will allow Greece to get back on the path of economic growth and debt sustainability.”

    On Sunday, the majority of Greeks voted to ditch creditors’ proposals that envisaged harsher austerity in exchange for a new cash injection.

    “We continue to believe it is in the US interest and in global interest for these differences to be resolved.”

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

    Financial crisis in Greece (197)


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