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Eurogroup recommends to exclude Greece from Eurozone

July 12, 2015, 20:45 UTC+3 BRUSSELS
The Eurogroup has ruled out possible writing off Greece’s debts
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BRUSSELS, July 12. /TASS/. The Eurogroup has recommended the EU summit to endorse the allocation of an aid programme to Greece worth from 82 to 86 billion euro or temporarily exclude it from the Eurozone, according to draft agreement between Greece and its creditors.

If efforts to reach an agreement with the Greeks fail, the Eurogroup says it would be expedient to exclude Greece from the Eurozone for a term of upt to five years.

The third aid programme is to include up to 25 billion euro from the European Stability Mechanism and financing from the International Monetary Fund (IMF).

The Eurogroup has ruled out possible writing off Greece’s debts.

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