If you do not agree with creditors

The negative result in the negotiations of Greece with representatives of the European Union and the International Monetary Fund (IMF) can lead the country to bankruptcy, exit from the euro zone and, possibly, from the European Union, follows from the report of the Greece Bank. However, representatives of the department note that before the final agreement between the parties “one small step”.

As follows from the report of the Bank of Greece on Monetary Policy for 2014-2015, if the country does not reach an agreement with creditors, it may leave the euro zone and, possibly, from the European Union.

Europe does not have enough patience for Greece

As noted in the report, in the case of negotiations, the debt crisis controlled by the Greece government has encountered, will develop into an uncontrollable crisis with high risks for the banking system and financial stability. “The conclusion of a new agreement with partners is important in order to prevent direct risks for the economy, reduce uncertainty and ensure the prospect of sustainable development of Greece,” the document says. At the same time, the Central Bank expressed the opinion that the compromise on the main points of the agreement has already been achieved and, before the final resolution of the situation, one small step remains.

Recall that Greece is negotiating with the European Union and the IMF about the settlement of debt with a volume of more than € 240 billion, which was formed after saving the Greek budget from the default in 2010 and 2012. So far, the measures taken by the country's government have not allowed to pay debts at the right pace. The agreement with creditors should be reached until the end of the Greece Assistance Program, that is, until the end of June, in addition, on June 30, the country must transfer € 1.54 billion by IMF loans.

Greece is approaching help

“If it comes to the catastrophic development of events in Greece, Europe will demonstrate to the whole world that he is not able to take care of stability and order in its own region”-this opinion was expressed by the former head of the European Central Bank Jean-Claude Trisha in today's interview with the economic magazine “Capital”. However, he emphasized that the responsibility for the prevention of Greece from the currency union lies primarily on the local government, which should provide a confidence in the reform program and return trust both in the EU and within the country. As noted by the official representative of the British Prime Minister David Cameron, the possible default of Greece would become a serious risk to the entire region of the region and now the UK is increasing efforts to prepare its financial system for the possible withdrawal of the republic from the eurozone.

Independent analyst Bogdan Zvarich on the air of Kommersant : “Perhaps about the same situation will happen as occurred in Cyprus, there will be some restrictions on the withdrawal and transfer of funds. It is possible that such a situation can even lead to the default of Greece and the release of Greece from the eurozone. But this is a return to its own currency, it will be a fairly serious crisis for Greece. There will be some kind of redeshental in the national currency, and it is not the fact that this redrawing will pass at a good course. Further decrease in the national currency is very possible. ” Read more

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