MENU
EU Economics

Europe on the brink: Greece begs EU and IMF “GIVE US MORE MONEY”

GREECE’s debt crisis has reached boiling point after Athens lashed out at the International Monetary Fund (IMF) and begged Europe to hold an emergency summit over loan negotiations.

alexis tsipras

GETTY   Greece needs more money to avoid crisis


Athens is trying to secure its next £4billion of aid, which forms part of the bailout package agreed with creditors last summer when Greece almost went bust.Prime Minister Alexis Tsipras yesterday pleaded with Donald Tusk, President of the European Council, to call a meeting of eurozone leaders, as it remained at loggerheads with the IMF and its other creditors.

But Mr Tusk snubbed the request and insisted the situation should be handled by finance ministers.

He said: “I am convinced that there is still work to be done by the ministers of finance who have to avoid a situation of uncertainty for Greece.”

greece graffiti

GETTY   Greece almost crashed out of Europe last summer over its debts


 donald tusk

GETTY   Donald Tusk turned down calls for an emergency summit


It comes as the situation as Athens once again runs out of cash to pay salaries and pensions, and faces looming debt repayments to the IMF and European Central Bank (ECB) in June and July.Beta Securities chief trader, Takis Zamanis, said: “The crisis of the summer of 2015 is on people’s minds.”

Greece and its creditors – the IMF, ECB and European Commission (EC) have failed to agree on the measures that Athens must take if it fails to meet targets agreed under the deal.

Prime minister Mr Tsipras is also resisting pressure to make unpopular economic reforms including changes to taxes and pensions.

Government spokeswoman Olga Gerovasili said: “The IMF is making demands which go beyond what was agreed.

“These demands undermine efforts by both the Greek government and European institutions,” she said.

The left-wing leader had communicated his “displeasure” to Mr Tusk over the IMF’s behaviour, according to his office.An IMF spokesman in Washington said the institution had no immediate comment on the matter.

Mr Tusk said eurozone finance ministers must urgently set a date to restart negotiations.

But one official close to talks said the window for action was getting narrower.

He said: “There is a perception that if no deal is reached in the next week or two, everything will be postponed until after the Brexit vote.”

http://www.express.co.uk/finance/city/665239/Greece-begs-EU-IMF-MORE-MONEY

Leave a Reply

Be the First to Comment!

Help put the World to rights and leave a Comment

  Subscribe  
Notify of
MENU
Powered by: Wordpress
%d bloggers like this: