Eurozone holds emergency meeting to resolve Greek debt
On November 24, the Council of Eurozone Finance Ministers held an emergency meeting to propose technical aspects related to the issue of stabilizing Greece's debt in the medium term.
Photo for illustration purposes only. (Source: PA)
The meeting was held via telephone and was carried out within the framework of preparations for the extraordinary meeting of the Council of Ministers of 17 Eurozone countries with the participation of representatives of the International Monetary Fund (IMF), the European Commission (EC) and the European Central Bank (ECB) on November 26 to discuss the solutions approved at the meeting on November 24 and find a compromise solution on the Greek public debt issue as well as the disbursement of the next bailout loan for this country.
According to AFP news agency, the proposals include cutting the interest rate on bilateral loans that Greece received under the first phase of the financial aid program and not setting new interest rates, transferring to Greece at least part of the income from Greek stocks received by the ECB and the central banks of the Eurozone countries.
In addition, the meeting also put forward another proposal to buy Greek debt in the secondary market with Eurozone stabilization funds.
For several months, Greece has been waiting for the next 31.5 billion euro (about 40 billion USD) bailout from the eurozone and the IMF. The Eurozone meeting on November 20-21 failed to approve the bailout for Greece due to disagreements between the EC and the IMF on a long-term strategy to reduce Greece's debt./.
According to (TTXVN) - LT
