Arab Today, arab today imf ecb chiefs unexpectedly join greece debt talks
Last Updated : GMT 12:02:01
Arab Today, arab today
Arab Today, arab today

Cash-strapped country battles with creditors

IMF, ECB chiefs unexpectedly join Greece debt talks

Arab Today, arab today

Arab Today, arab today IMF, ECB chiefs unexpectedly join Greece debt talks

Greek national flags hang outside a kiosk in Athens
Berlin - Arab Today

The heads of the IMF and European Central Bank unexpectedly joined talks on Greece's debt crisis Monday as the cash-strapped country battles with its creditors to unlock desperately-needed bailout funds.

The presence of International Monetary Fund chief Christine Lagarde and ECB president Mario Draghi underlined the high stakes as Greece stares at a Friday deadline to repay 300 million euros ($328 million) it owes to the IMF.

There are fears Greece does not have the necessary funds and will default, possibly setting off a chain-reaction that could end with a messy exit from the eurozone.

The late-night meeting in Berlin was also attended by German Chancellor Angela Merkel, French President Francois Hollande and European Commission head Jean-Claude Juncker.

The aim was to come up with "a final proposal" to present to Athens, according to German daily Die Welt.

But Merkel's office said after the meeting only that the quintet agreed to work together "intensely" in the coming days and would stay in "close contact".

Die Welt, citing sources close to the talks, said they began at 1930 GMT and Greek Prime Minister Alexis Tsipras was in Athens "awaiting a phone call from the troika" of the EU, IMF and ECB.

According to a diplomatic source, the group did not telephone the Greek premier during the meeting.

Greece remains locked in tough negotiations with international creditors in a bid to release 7.2 billion euros in remaining bailout funds.

A deal has so far proved elusive as its creditors in Europe and the IMF push for greater reforms in return for the cash, which Greece's anti-austerity government has refused to match.

- 'Absurd proposals' -

Merkel, Hollande and Juncker met for scheduled talks earlier Monday but the evening arrivals of Lagarde and Draghi came as a surprise.

They are in Germany for G7 meetings this week, at which the Greek crisis is featuring prominently. The United States and Japan have pressed Europe to resolve the crisis for the global economy's sake.

The impromptu gathering followed a phone conference Sunday between Merkel, Hollande, Juncker and Tsipras, which Merkel's spokeswoman described as "constructive".

But in a column published by French newspaper Le Monde on Sunday, Tsipras said his government was not to blame for the impasse.

"It is due to the insistence of certain institutional actors on submitting absurd proposals and displaying a total indifference to the recent democratic choice of the Greek people," he wrote.

Lagarde caused a stir last week by citing the "potential" of Greece leaving the 19-nation eurozone but ahead of the Berlin meeting, Juncker stressed that a "Grexit" would be bad for the entire bloc.

"I don't share this idea that we'd have fewer concerns and constraints if Greece gave up the euro," he told the Sueddeutsche Zeitung.

Tsipras said his government has made concessions, including agreeing to implement a series of privatisations it had previously opposed.

It has also agreed to reform its value-added tax system as well as the pension system.

Rather than imposing further austerity that has so far only served to drive Greece into a deeper recession, he said his government has also submitted proposals to raise revenues.

Tsipras warned that Europe was at a crossroads, and could choose between a strategy of greater integration or one of division.

Those seeking the second strategy are simply seeking to inflict harsh punishment and mandatory austerity, with "Greece being the first victim", he said.

"To some, this represents a golden opportunity to make an example out of Greece for other countries that might be thinking of not following this new line of discipline," he wrote.

"Which strategy will prevail? The one that calls for a Europe of solidarity, equality and democracy, or the one that calls for rupture and division?"
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf ecb chiefs unexpectedly join greece debt talks Arab Today, arab today imf ecb chiefs unexpectedly join greece debt talks

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 09:55 2017 Monday ,20 February

Thailand 2016 growth up but below junta target

GMT 09:29 2017 Monday ,20 February

Kraft Heinz withdraws bid for Unilever

GMT 09:22 2017 Monday ,20 February

China's huge debt poses big headache for central bank

GMT 18:23 2017 Sunday ,19 February

Darwesh vows to provide job opportunities for youth

GMT 12:10 2017 Sunday ,19 February

Welcomes the F&B solution of the future

GMT 10:06 2017 Friday ,17 February

South Korea's Hanjin Shipping declared bankrupt

GMT 09:26 2017 Friday ,17 February

Samsung's history tainted by run-ins with the law
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday