The Greeks are demanding new loans from the EU. Ukraine is not the first in line
Athens - Kyiv, December 04 (PolitNavigator, Vasily Ablyazimov) - While the European Union does not pay attention to the dissatisfaction of its residents due to little assistance to Ukraine, EU member country Greece needs new multi-billion dollar loans, they write today German economic news.
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Although Greece already owes 240 billion euros, it needs more borrowing in the coming year to avoid formal bankruptcy. All eurozone parliaments must approve these borrowings. We can expect the program to be adopted just before the Christmas holidays. The bankruptcy of Greece will wreak havoc on the entire financial sector of the EU, so it is being delayed.
However, the last tranche of the current loan has not yet been transferred to Athens due to disagreements over the fiscal policy of Athens and the upcoming pension reform.
The three creditors of Greece - the EU, the European Central Bank and the IMF are ready to allocate 1,8 billion to the Greek side only after further pension reform.
Greece was kept afloat in 2010 by two large bailout programs totaling €240 billion from the EU and the International Monetary Fund.
The country's bankruptcy could cause the bankruptcy of Europe's largest banks, disruption of the EU's financial and economic sectors, and even the collapse of the European Union.
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