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Fourth echelon

US Treasury secretary urges Greece to reach debt deal

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WASHINGTON (AP) — U.S. Treasury Secretary Jacob Lew is urging Greece to reach a deal with its creditors, warning that a default would "create immediate hardship for Greece" and damage the world economy

Greece is in negotiations with the International Monetary Fund and European authorities to receive the final 7.2 billion euro ($7.8 billion) installment of its financial bailout. Creditors are demanding that Greece produce credible reforms before releasing the money.

The country has relied on loans from the international community since 2010. Without more bailout money, Greece could miss two debt payments due to the IMF in May and run out of cash to pay government salaries and pensions

http://news.yahoo.com/us-treasury-secretary-urges-greece-reach-debt-deal-043116893.html

 
 
 

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