US, French Presidents Discuss Greek Crisis on Phone

Both leaders said their teams were in close contact and were monitoring economic developments in Greece as well as broader financial markets.

Published: 07th July 2015 03:20 PM  |   Last Updated: 07th July 2015 03:20 PM   |  A+A-

By IANS

WASHINGTON: US President Barack Obama and his French counterpart, Francois Hollande, have discussed the Greek crisis on the telephone, Efe news agency reported.

They agreed to "finding a path forward that will allow Greece to resume reforms and return to growth".

The White House said in a statement that both Obama and Hollande agreed on Monday it "will require difficult compromises by all parties" to return Greece to a path of growth and sustainable debt within the eurozone.

Both leaders said their teams were in close contact and were monitoring economic developments in Greece as well as broader financial markets.

The US on Monday reiterated that the needs of the Greek economy remained the same, post Sunday's referendum, and urged a “compromise” between Athens and international creditors to reach a package of reforms and funding.

"The referendum is over, but our view here at the White House remains the same," White House spokesperson Josh Earnest said in his daily press conference

He added the path towards finding a financial solution must be done "in a way that would allow Greece to remain part of the eurozone".

In the first declarations of the US government, following the Greeks voting a resolute “No” in the referendum on Sunday against austerity proposed by international creditors, Earnest said although US believed it was in the interest of all parties to reach an agreement, it was ultimately "a European challenge to solve".

In recent weeks, Washington has told European leaders, the package of structural reforms must be accompanied by debt relief, something countries like Germany and the Netherlands have been wary of.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp