Greece denies possible debt default and exit from Eurozone
June 9th, 2010 - 12:59 am ICT by BNO NewsATHENS, GREECE (BNO NEWS) – The Greek government denied on Tuesday rumors of a possible debt default and an exit from the Eurozone, local media reported.
A spokesman for the Greek government said that these rumors and scenarios of an imminent catastrophe does not help the country or the European Union (EU), and only creates a climate of insecurity for both the citizens and businesses in Greece.
Since late 2009, Greece has faced a severe economic crisis and debt. The government had to secure a package of low interest loans from the EU and the International Monetary Fund in May to avoid bankruptcy. In return, Greece has to enable drastic reforms to reduce its huge budget and return to a growth climate in no more than three years.
Despite all these actions, many believe that Greece would not be able to return to its old currency, the drachma. Many Greek officials have questioned these rumors and even condemned them.
“It is obvious that all these scenarios of an imminent catastrophe do not help the country overcome the economic crisis,” a Greek government spokesperson said.
“Greece is committed to succeeding. We should all agree to that. Instead of complaining, we should focus on growth,” the minister of Development Hatzidakis said.
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Tags: athens greece, bankruptcy, bno, catastrophe, climate, currency, debt default, economic crisis, european union, eurozone, government spokesperson, greek government, greek officials, hatzidakis, insecurity, international monetary fund, local media, low interest loans, scenarios, spokesman