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Greece’s Troika of Creditors Doomed to ‘Collapse’ - Belgian Economist
Greece’s Troika of Creditors Doomed to ‘Collapse’ - Belgian Economist
Sputnik International
The so-called troika of international creditors, comprising the European Union, the European Central Bank and the International Monetary Fund, which negotiated... 13.07.2015, Sputnik International
2015-07-13T16:35+0000
2015-07-13T16:35+0000
2023-02-09T12:08+0000
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business, newsfeed, greece's gordian knot: syriza tackles austerity, greece, the european central bank (ecb), eurozone, international monetary fund, european union (eu)
business, newsfeed, greece's gordian knot: syriza tackles austerity, greece, the european central bank (ecb), eurozone, international monetary fund, european union (eu)
Greece’s Troika of Creditors Doomed to ‘Collapse’ - Belgian Economist
16:35 GMT 13.07.2015 (Updated: 12:08 GMT 09.02.2023) The so-called troika of international creditors, comprising the European Union, the European Central Bank and the International Monetary Fund, which negotiated the Greek bailout, is on the verge of collapse, Belgian economist Paul Jorion said Monday.
BRUSSELS (Sputnik) — Greece owes about $270 billion of its total $350-billion debt to the International Monetary Fund, the European Central Bank and some Eurozone countries.
"Today, we are witnessing the collapse of the troika. The problem is in disagreements within the troika," Jorion said in an interview with French-language RTBF broadcaster.
The July 5 referendum, in which Greeks voted against the austerity measures demanded by the country’s creditors in exchange for further aid, fueled fears that the country may default on its debt.
On Monday, however, eurozone leaders managed to reach an agreement on a new bailout package for Greece, with $95 billion to be given to the country over three years in exchange for economic reforms.
