- Title: G7-SUMMIT/LEW U.S. Treasury Secretary Lew urges broad deal in Greece now
- Date: 29th May 2015
- Summary: DRESDEN, GERMANY (MAY 29, 2015) (REUTERS) U.S. TREASURY SECRETARY JACK LEW WALKING TO PODIUM MEDIA (SOUNDBITE) (English) U.S. TREASURY SECRETARY, JACK LEW, SAYING: "I think that there was a broad view - I think of all participants - that Greece needs to make some very tough decisions. They need to implement policies that will be difficult in Greece. But they need to show with clarity the steps that they are prepared to take. I think there was also a shared view that it would be best for this to be resolved. And it is not in the interest of the global economy for there to be a crisis." LEW SPEAKING PHOTOGRAPHERS (SOUNDBITE) (English) U.S. TREASURY SECRETARY, JACK LEW, SAYING: "It is in everyone's interest for this to be resolved, and for it to be resolved as quickly as possible. There is the possibility that June 5th is not the real deadline, that there is a later date in June. But what we know for sure is that you keep raising the risk of an accident if you put off the action until whatever the next deadline is." JOURNALISTS CAMERAS (SOUNDBITE) (English) U.S. TREASURY SECRETARY, JACK LEW, SAYING: "I reiterated the strong commitment of the United States to combat terrorist financing and the importance of ongoing work in multiple fora." NEWS CONFERENCE IN PROGRESS
- Embargoed: 13th June 2015 13:00
- Keywords:
- Location: Germany
- City:
- Country: Germany
- Topics: General
- Reuters ID: LVA9HOBEE297JPM4JJEZHGHFG6RZ
- Aspect Ratio: 16:9
- Story Text: Greece and its creditors need to quickly agree on a broad deal to address the Greek debt crisis and then work out the details before Athens hits deadlines for repayments, U.S. Treasury Secretary Jack Lew said on Friday (May 29).
The G7 agreed broadly that Greece needs to make some very tough decisions, he told reporters.
"They need to implement policies that will be difficult in Greece. But they need to show with clarity the steps that they are prepared to take," Lew said.
Lew, speaking to reporters after a meeting of policymakers from the Group of Seven economies, said a speedy deal would reduce the chances of an "accident" and he wanted to see a pragmatic outcome to the protracted crisis.
"It is in everyone's interest for this to be resolved, and for it to be resolved as quickly as possible. There is the possibility that June 5th is not the real deadline, that there is a later date in June. But what we know for sure is that you keep raising the risk of an accident if you put off the action until whatever the next deadline is," he said.
Greece and its creditors from the euro zone countries and the International Monetary Fund are trying to hammer out a cash-for-reforms deal that would prevent the country from defaulting on its debt and potentially leaving the euro zone. Greece faces a deadline for payment of IMF debts next week.
Lew said the two sides had not spent their time productively since January, adding that it would be a good idea if the various deadlines laid down for Greece were taken seriously.
The U.S. Treasury Secretary also reiterated his county's strong commitment "to combat terrorist financing and the importance of ongoing work in multiple fora." - Copyright Holder: REUTERS
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