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Latvian president certain that Greece will not pay its debt

BC, Riga, 30.06.2015.Print version
There is no hope that Greece will pay its debt to the international lenders, Latvian president Andris Berzins said in an interview with the LNT show "900 sekundes", reports LETA.

He said that by taking new loans and extending payment terms over the past five years, time was being bought to postpone the decision. However, the debt has become so huge that it will be impossible for Greece to pay it back, and there is no hope that the contrary might happen.


Berzins believes that the international community is well aware of the problem, yet no one is trying to analyze why Greece ended up in this situation.


The president added that in the worst case scenario, the impact on Latvia will be insignificant, as trade volumes between Latvia and Greece are very small.


Prime Minister Laimdota Straujuma (Unity), too, told LTV this morning that the impact of the Greek crisis on Latvia is insignificant, as "we have not taken part in the Greek loan program, and the trade volume is low." The politician urges Latvian tourists to be cautious, as withdrawing cash in Greece could be troublesome. The only way Latvia could be affected is by offering assistance to those countries that are under a larger influence of Greece.


It is important to keep the euro stable, and Straujuma is certain that the European Central Bank will guarantee it.


"Sooner or later the debt will have to be paid, so I am surprised about the Greek government's actions," the politician added.


As reported, Greece must pay EUR 1.6 billion to the International Monetary Fund due on June 30.


Greek Prime Minister Alexis Tsipras announced that Greece will not pay back its EUR 1.6 billion debt.






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