Eurozone countries are not going to increase their financial support to Greece if it fails to secure a deal with private creditors, Finance Minister of Greece said, as political leaders remained locked in talks with banking negotiator for the second day.
Greek artist Evangelos Venizelos and Lucas Papademos, Prime Minister of Greece, trying to persuade creditors to accept a deal that will see $ 100bn abolished the country’s national debt as part of a rescue package to rescue the faltering economy from bankruptcy by Greece.
“If there is a difference (financing), this should be covered by a larger contribution from the official sector-which means the euro zone countries, directly or indirectly. And at this point, I don’t see any desire or Readiness to increase their contributions, “Venizelos told Parliament of Greece.
Greece faces a new threat of defaulting on its debts, with $ 14.5bn payments looming on March 20, and there are no funds available to cover that amount.
Default, the Finance Minister warned, would certainly result in Greece out of the 17 countries of the euro zone.