The major players of the Greek debt drama are sticking to their views as the time frame for reaching an agreement is nearing its end a Wall Street Journal article reports from Istanbul.
As highlighted in the report, the impasse in the negotiations is causing fear among finance ministers and central bankers of the G-20 Group at their meeting in Constantinople this week, and pushes Greece at the brink of default and possibly even a forced exit from the Eurozone. Such a development, officials fear, might also lead to the breaking up of the Eurozone , throw it back in recession and thus undermine global growth.
The report stresses that Chinese vice finmin Zhu Guangyao spoke about the importance of a strong Eurozone adding his hope that Greece and the EU members will soon come to an agreement.
German Finance Minister Wolfgang Schäuble said that without a program things will be very difficult for Greece.
According to the same article French finmin Sapin seemed more conciliatory at the G-20 meeting, expressing his belief for a compromising solution that would provide Greece with a financing extension and a wider long term program.
The WSJ adds that US Treasury Secretary Jacob Lew asked his European colleagues for a greater economic cooperation with Greece amid concerns in Washington that the current impasse might not be surpassed.
