Diplomatic efforts begin to save euro
Jerome Hughes
Press TV, Brussels
In a statement following a meeting in Brussels with the new Greek Prime Minister, Alexis Tsipras, European Council President, Donald Tusk, said that a solution must be found to the Greek debt crisis that is acceptable to all of the country's lenders. He also warned that negotiations will be difficult. Tsipras also met with European Commission President, Jean-Claude Juncker and the President of the European Parliament, Martin Schulz.
Greece is in a dire economic crisis and the country's new government is trying restructure loans from international creditors worth €240bn. Its biggest lender, Germany, has ruled out cancelling any of the country's debt. Some economists say that if Greece leaves the euro then the currency may not survive and this could spell disaster for the EU as a whole. Experts say the number one reason why more and more citizens in EU countries, such as Greece, are supporting far-left and far-right parties is because of unemployment.
A lot of diplomatic language is being used by politicians in public but analysts say that behind the scenes very tough negotiations have already begun involving technical teams from Greece and the European Commission. A clearer picture regarding this crisis will emerge next week following an emergency meeting here of eurozone finance ministers.
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