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Greek debt crisis: Obama and Merkel monitoring situation closely Greek debt crisis: Obama and Merkel monitoring situation closely
(about 1 hour later)
Related: Greek crisis: Banks to stay shut as capital controls imposed - live updatesRelated: Greek crisis: Banks to stay shut as capital controls imposed - live updates
President Barack Obama and German chancellor Angela Merkel spoke on Sunday and agreed it is “critically important” to find ways to keep Greece in the euro zone, the White House said. President Barack Obama and German chancellor Angela Merkel spoke on Sunday and agreed it is “critically important” to find ways to keep Greece in the eurozone, the White House said.
On Saturday, Greek prime minister Alexis Tspiras called a referendum on the country’s bailout deal. The vote will take place on 5 July. Greek banks were due to stay closed on Monday.On Saturday, Greek prime minister Alexis Tspiras called a referendum on the country’s bailout deal. The vote will take place on 5 July. Greek banks were due to stay closed on Monday.
About Obama’s conversation with Merkel, the White House said in a statement: “The leaders affirmed that their respective economic teams are carefully monitoring the situation and will remain in close touch.About Obama’s conversation with Merkel, the White House said in a statement: “The leaders affirmed that their respective economic teams are carefully monitoring the situation and will remain in close touch.
“The two leaders agreed that it was critically important to make every effort to return to a path that will allow Greece to resume reforms and growth within the euro zone.”“The two leaders agreed that it was critically important to make every effort to return to a path that will allow Greece to resume reforms and growth within the euro zone.”
On Saturday, US treasury secretary Jack Lew urged European finance ministers and the International Monetary Fund to continue working together toward a “sustainable solution” to reforms in Greece and its recovery within the euro zone. On Saturday, US treasury secretary Jack Lew urged European finance ministers and the International Monetary Fund to continue working together toward a “sustainable solution” to reforms in Greece and its recovery within the eurozone.
Lew spoke by phone with several top officials on Saturday, including the finance ministers of Germany and France and IMF managing director Christine Lagarde, according to a readout of the call provided by the Treasury Department on Sunday.Lew spoke by phone with several top officials on Saturday, including the finance ministers of Germany and France and IMF managing director Christine Lagarde, according to a readout of the call provided by the Treasury Department on Sunday.
In those calls, Lew said it was “important for all parties to continue to work to reach a solution, including a discussion of potential debt relief for Greece, in the run up to the 5 July referendum,”, according to the readout. In those calls, Lew said it was “important for all parties to continue to work to reach a solution, including a discussion of potential debt relief for Greece, in the run up to the 5 July referendum”, according to the readout.