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 15:47 2017 Sunday ,17 December

Alonso edges Chelsea past Southampton

GMT 20:35 2017 Tuesday ,26 September

Military production companies aim at 100% locally-made

GMT 16:39 2017 Saturday ,11 February

Yemen's rebels demand dismissal of UN peace envoy

GMT 01:54 2017 Saturday ,23 September

Venezuela protest death toll rises in renewed violence

GMT 20:19 2016 Thursday ,17 November

Cairo film festival begins with a bang

GMT 02:24 2017 Saturday ,18 November

Hariri expected in France after 'Saudi hostage' rumours

GMT 06:07 2013 Monday ,15 July

Egypt freezes Islamist leaders\' assets

GMT 06:07 2017 Saturday ,30 September

At least 12 Afghan security forces killed

GMT 00:18 2016 Tuesday ,27 September

Probe own brother, ousted Thai PM tells junta chief

GMT 13:22 2017 Friday ,01 December

Ambassadors of Western nuclear powers

GMT 20:33 2017 Sunday ,23 July

Turkish president begins his 2-day Gulf tour

GMT 21:37 2017 Monday ,05 June

Kuwaiti emir receives OIC secretary general

GMT 21:38 2017 Friday ,01 September

Indonesian public interest to go on hajj increasing

GMT 21:32 2017 Sunday ,13 August

Egypt condoles with UAE over death soldiers

GMT 11:30 2016 Wednesday ,21 September

Baseball announcer Scully prepares

GMT 05:30 2017 Saturday ,01 April

Italy fears sting of Trump trade barriers

GMT 11:14 2017 Saturday ,15 April

SCOVA meets EU ambassador to Sudan

GMT 11:07 2017 Saturday ,20 May

North Korea warns US of 'merciless' strikes

GMT 01:53 2017 Monday ,04 September

Polish PM rejects 'blackmail' on EU migrant quotas
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