German Chancellor Warns That If “Euro Fails, Europe Fails”
Published on Jun 29, 2015
Making a speech during a ceremony marking 70 years since the founding of her Christian Democratic Union, Angela Merkel called for a compromise between the two sides in order to resolve Greece’s crippling debt crisis. She added that financial assistance can only be offered in exchange for efforts by the countries that receive it. Meanwhile French president Francois Hollande expressed hope that it is still possible for Athens and its international creditors to resolve Greece’s five-year old debt crisis. Athens is due to pay back one-point six billion euro loan payment to its creditors. The creditors have ruled out an extension to Greek bailout program which will expire on Tuesday night.