European leaders finally find solution for Greece’s debt crisis recovery

The German Chancellor Angela Merkel, the French President Francois Hollande, the President of the European Council Donald Tusk and the head of the Greek government Alexis Tsipras agreed upon the project of a “compromise” agreement for Greece’s recovery from debt crisis. It was reported by Tusk’s representative Preben Aamann on his Twitter, Joinfo.ua reports.

He announced that the European Summit would be reconvened to discuss a compromise proposal for the debt crisis recovery in Greece. However, Aamann did not disclose any details of the agreement.

It should be recalled that at the referendum, which was held on July 5, more than 60% Greeks voted against the conditions of the European Union.

July 8, the International Monetary Fund (IMF) refused to continue financial support for Greece.

The head of the Central Bank of France, ECB Governing Council member Christian Noyer said that Greece’s debt to the ECB could not be restructured.

“Greece’s debt held by the Eurosystem is debt that cannot by its very nature be restructured because that would be monetary financing of a state,” Noyer explained.