Time-out from Eurozone possible for Greece
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READING:
Greece's crisis about its future in the Eurozone continues. It is struggling to pay back huge loans from European countries. Greeks are tired of austerity measures caused by repayment of the loans. They voted in a referendum on whether or not to accept a bailout. The bailout idea was from the European Commission and International Monetary Fund. Over 60 per cent rejected it because they thought their living conditions would get worse. The latest plan is a temporary Greek exit, or 'time-out' from the Eurozone. This could happen if Greece does not agree to a bailout.
Greeks really want a return to a normal life. Banks have been closed for two weeks and there is a €60 daily limit on cash machines. People are very worried about their savings and their financial future. European leaders are more upbeat. France's President rejected any suggestion of a temporary exit for Greece. Greece's Prime Minister was also confident a solution would be found. He said: "I'm here ready for an honest compromise....We can reach an agreement…if all parties want it." Germany's leader was less optimistic. She said trust and reliability had been lost.
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