EUROZONE-GREECE/TUSK Greek "game of chicken" needs to end, says EU's Tusk

Record ID: 151829

  • Title: EUROZONE-GREECE/TUSK Greek "game of chicken" needs to end, says EU's Tusk
  • Date: 19th June 2015
  • Summary: BRUSSELS, BELGIUM (RECENT) (REUTERS) EXTERIOR OF EUROPEAN COUNCIL
  • Embargoed: 4th July 2015 13:00
  • Keywords:
  • Location: Belgium
  • Country: Belgium
  • Topics: General
  • Reuters ID: LVA5Z6HBE3VH2CVQ5CNU2BFCZ76W
  • Aspect Ratio: 16:9
  • Story Text: European Council President Donald Tusk said on Friday (June 19) that a summit called for on Monday would not provide a "magic solution" for Greece and that Athens would soon have to choose whether to accept a "good offer" of support or head towards default.
    In a brief statement, Tusk said he had convened a meeting of eurozone heads of government after four months of deadlock and with the EU's assistance programme to Greece set to run out at the end of the month.
    "The situation of Greece is getting critical. The current economic assistance programme to Greece runs out in 11 days. Four months of negotiations have not led to the necessary compromise. The Eurogroup meeting yesterday did not manage to break the deadlock. The game of chicken needs to end, and so does the blame game, because this is not a game and there is no time for any games. It is reality with real possible consequences, first and foremost for the Greek people," he said.
    Tusk added people should not have any illusions that the summit would produce a magic solution. The summit would not be the final step, he said, with no detailed technical negotiations. That remained the job of the finance ministers.
    "We are close to the point where the Greek government will have to choose between accepting what I believe is a good offer of continued support or to head towards default. At the end of the day, this is and can only be a Greek decision and a Greek responsibility. There is still time. But only a few days. Let us use them wisely," he said.
    Athens and its international creditors remain deadlocked over a debt deal, the former refusing to introduce the reforms on pensions or value added taxes wanted by the latter.
    As Greece edged closer to the brink of a default, bank withdrawals accelerated in Greece and government revenue slumped.
  • Copyright Holder: REUTERS
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