The economic crisis in Greece is a reflection of European Union problems, Greek Prime Minister Alexis Tsipras said Friday.
ST.
PETERSBURG (Sputnik) — The European Union needs to return to its
initial declarations and principles of solidarity and justice as the
path of austerity is counterproductive, Tsipras noted.
"The so-called Greek problem is not a Greek problem, it is a European
problem," Tsipras said, adding that the problem is the Eurozone itself
and its structure.
Greece's overall debt stands at about $350 billion, of which $270 billion is owed to the European Commission, the European Central Bank and the International Monetary Fund.
On Thursday, EU Commissioner on Economic and Financial Affairs Pierre Moscovici said that the failure to reach an agreement in talks between Greece and international creditors before the deadline could lead to catastrophic consequences.
"The question is, whether the European Union will be able to become a region of development again," Tsipras said.
Athens is currently attempting to negotiate a $270-billion debt
relief terms with its international creditors. Its current bailout
program expires on June 30.Greece's overall debt stands at about $350 billion, of which $270 billion is owed to the European Commission, the European Central Bank and the International Monetary Fund.
On Thursday, EU Commissioner on Economic and Financial Affairs Pierre Moscovici said that the failure to reach an agreement in talks between Greece and international creditors before the deadline could lead to catastrophic consequences.
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