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Possibility of Greece leaving euro zone grows every day — Economic Development Minister

July 09, 2015, 14:35 UTC+3 UFA
Long-term and medium-term commercial debt of Greece is currently at roughly €39 bln, which corresponds to 22% of the country’s GDP. All remaining debt - €261 bln are owed to the official creditors
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© EPA/BORIS ROESSLER

UFA, July 9. /TASS/. The probability of of Greece leaving the euro zone grows every day, Russian Economic Development Minister Alexey Ulyukayev told TASS Thursday.

"The possibility of Greece leaving grows every day, because there is less time to make a decision," he said.

Ulyukayev said that "all analysts take into account a greater risk in their calculations and expectations."

On June 27, 2015 at an extraordinary meeting of the Eurogroup international lenders have announced that the program of financial aid to Greece expires June 30 and would not be renewed without agreeing on the reform agenda in the country, and that Greece would not get a grace period on payments to the International Monetary Fund (IMF) $1.6 bln euros.

On July 5, a government-appointed referendum took place, at which the population was asked to speak "for" or "against" proposals of the EC, the IMF and the ECB on the settlement of the Greek debt problem.

The people were asked to decide whether the government should accept a draft deal presented by the "troika" at a meeting of the Eurogroup on June 25, 2015. The document of creditors consists of two parts - reforms to complete the current program and preliminary analysis of the debt’s stability.

A total of 61.31% of Greeks spoke against the terms of agreement with creditors on Greece’s debt - this is the final result of Sunday’s referendum announced by the Interior Ministry after 100% of ballots have been processed.

Long-term and medium-term commercial debt of Greece is currently at roughly 39 bln euro, which corresponds to 22% of the country’s GDP. All remaining debt - 261 bln euro (excluding 15 bln euro in Treasury bills) are owed to the official creditors (the European Union, the European Central Bank, the International Monetary Fund).

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