The Greek government has asked for a new bailout program from the European Stability Mechanism (ESM), that’ll cover all the country’s financial needs for the next two years, Bloomberg reports referring to a government statement.
The Greek government has asked for a new bailout program from the European Stability Mechanism (ESM), that’ll cover all the country’s financial needs for the next two years, Bloomberg reports referring to a government statement.
The Greek government said it will continue negotiations with the Troika in order to seek a “viable agreement” within the eurozone. Earlier on Tuesday Greek Finance Minister Yanis Varoufakis said the country would not meet the IMF payment deadline.
Afterthe June deadline to repay €1.6 billion to the IMF expires at 6 pm Washington time today, the IMF will classify Greece as being “in arrears”, which is seen as being virtually the same as default.
Over the weekend Greece’s Prime Minister Alexis Tsipras announced a referendum for July 5, when Greeks would vote whether to accept the latest proposals from the international creditors.
The decision to hold a referendum does not mean an end but the continuation of negotiations with the creditors for more favorable conditions for the Greek people, the statement added.
Courtesy of RT
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