greece denies report it may opt out of receiving more bailout money
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Greece denies report it may opt out of receiving more bailout money

Arab Today, arab today

Arab Today, arab today Greece denies report it may opt out of receiving more bailout money

Greece has about €7 billion of debt maturing in July
Athens - Arab Today

Greece on Tuesday denied a German newspaper report it could opt out of receiving bailout loans needed to make a July debt repayment if its lenders fail to offer clear debt relief terms to the crisis-hit country despite it having passed more reforms.
Tuesday’s report in Germany’s mass-selling Bild that Athens could opt to go without €7 billion ($7.5 billion) of new loans if it does not get comprehensive debt relief, and was putting billions of euros aside preparing for this scenario, rattled the euro in early trade.
Government spokesman Dimitris Tzanakopoulos dismissed the report, saying a deal on debt relief could be reached at the next scheduled meeting of euro zone finance ministers in less than three weeks.
“It is not true,” Tzanakopoulos told Reuters. “There will be a solution on June 15.”
Euro zone finance ministers failed to agree with the International Monetary Fund (IMF) last week on debt relief terms for Greece and did not release new loans to Athens but recognized it had made significant progress with reforms.
The country has about €7 billion of debt maturing in July, a sum it will not be able to repay unless it gets a new tranche of creditors’ money out of its current bailout worth up to €86 billion, the third aid program since the crisis began.
Greek Finance Minister Euclid Tsakalotos said the report distorted what he said during a press briefing a day earlier and added it was not true that Greece was putting aside money on its own to make the debt repayment.
“Bild has distorted what I said yesterday,” he told Reuters when asked to comment on the report.
“What I did say is that the disbursement (of bailout money) was not an issue because all sides agreed that we have kept to our commitments,” he said. “But the Greek government feels that a disbursement without clarity on debt is not enough to turn the Greek economy around.”
Greece hopes that euro zone finance ministers will offer enough clarity on the debt relief measures that could be carried out after its bailout ends in 2018, to convince investors that its debt — now at 197 percent of gross domestic product (GDP) — will be sustainable and help it return to bond markets as early as this summer.
The move could also convince the IMF to participate financially in its current bailout program, as sought by Germany, which is gearing up for elections in September. The Greek Parliament approved extra austerity measures that will be implemented after 2018 as demanded by the IMF.
Speaking to journalists on Monday, Tsakalotos said Greece had “done its part of what it promised” and called on its creditors and the IMF to reach a deal on debt relief saying it was for everyone’s benefit.
“If they do not reach a solution it will be very difficult to defend it to the international community. What will they say? That the Greek government did all that we asked for and more but we are still going to send it to the rocks?
“We are looking for a good solution; we are not looking for the perfect solution. I am confident we can get a good solution,” he said.

Source: Arab News

arabstoday
arabstoday

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*

greece denies report it may opt out of receiving more bailout money greece denies report it may opt out of receiving more bailout money

 



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*

greece denies report it may opt out of receiving more bailout money greece denies report it may opt out of receiving more bailout money

 



GMT 11:06 2015 Monday ,23 November

6 Sudanese found shot dead near Egypt-Israel border

GMT 17:06 2017 Tuesday ,24 January

Lavrov Stresses Importance of Astana Talks

GMT 06:14 2017 Monday ,25 September

D'Ambrosio saves Inter, AC Milan crash in Serie A

GMT 06:13 2017 Thursday ,28 December

US consumer confidence dampens in December

GMT 16:00 2017 Wednesday ,08 February

Kuwait hails Iran's readiness for dialogue with GCC

GMT 12:02 2017 Thursday ,02 February

LatAm needs to redouble efforts to reduce hunger

GMT 19:25 2017 Tuesday ,07 March

Morocco Takes Lead in Fighting Jihadist Terrorism

GMT 07:33 2017 Saturday ,11 February

Daesh shifts to desert valleys after Sirte defeat

GMT 07:46 2017 Saturday ,18 November

Saudi Arabia recalls its ambassador from Germany

GMT 20:49 2017 Tuesday ,26 September

Trump says Spain should remain united

GMT 19:54 2017 Saturday ,24 June

May’s Brexit rights offer disappoints EU leaders

GMT 00:10 2017 Saturday ,04 March

Mall of the Emirates offers nine Tesla chargers

GMT 22:40 2017 Friday ,24 November

Govt further strengthen Khatam-i-Nabuwat law: Ahsan

GMT 16:17 2018 Saturday ,08 September

1,000-year-old mosque discovered in UAE

GMT 08:57 2013 Tuesday ,16 July

Tourists flock to Kashmir valley in rare boom

GMT 13:46 2017 Friday ,20 January

Completion of project funded by Japan

GMT 01:53 2017 Saturday ,11 March

After 8 years, Lebanon gets new army chief

GMT 09:17 2018 Wednesday ,03 January

Introducing the Lamborghini URUS

GMT 10:25 2015 Sunday ,23 August

Britain reopens embassy in Tehran

GMT 12:35 2017 Wednesday ,08 March

UAE Minister of Interior Leaves Doha

GMT 00:22 2017 Friday ,22 December

EU seeks 'urgent' response
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday