BRUSSELS (Sputnik) – The latest round of bailout talks between cash-strapped Athens and its three main lenders — the European Commission, the European Central Bank and the International Monetary Fund — collapsed on Sunday. The sides are attempting to reach a new deal before the 2011 bailout program expires on June 30.
“He [EC President Jean-Claude Juncker] remains convinced that if there is something new, if we have stronger reform efforts on the Greek side and political will from all sides, a solution still can be found before the end of the month,” Schinas told a press briefing in Brussels.
Currently, Greece’s total debt is estimated at more than $350 billion, $270 billion of which it owns to the three international creditors.
Athens’ left-wing government, led by the Syriza party that won election in January, pledged to end the unpopular austerity measures that have plagued the country since 2011.
