Hollande: Agreement on Greek Debt Still Possible

The agreement on Greek debt between Athens and the international creditors is still possible, French President Francois Hollande said Tuesday.

BRUSSELS (Sputnik) — The French leader added that currently the possibility of Greece exiting the Eurozone cannot be ruled out. According to Hollande, if Grexit occurs, it would affect all the Eurozone economies as well as euro exchange rate.

“The agreement is still possible, but we must not waste time,” Hollande said after the ending of the Eurozone Summit in Brussels.

Greece's overall debt currently stands at about $350 billion, of which $270 billion is owed to the European Central Bank, the International Monetary Fund and eurozone countries.

On Sunday's referendum more than 61 percent of the Greek public voted against the lenders-proposed bailout plan that envisaged austerity reforms in exchange for another loan.

Late on Tuesday night, after the Eurozone summit, President of the European Commission Jean-Claude Juncker said that Athens has until Friday morning to present proposals to its lenders on how to resolve the Greek debt.

European Council President Donald Tusk said that the final deadline for achieving agreement on Greek bailout expires on Sunday.