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Bank of Greece: Deal needed to avoid 'dramatic' consequences
(MENAFN- Saudi Press Agency) Greece's central bank is warning that the country would face an exit from the euro bloc and even the European Union if it fails to reach a deal with bailout creditors by the end of the month, AP reported.
The Bank of Greece said Wednesday that Greeks would face a 'deep recession (and) a dramatic decline in income levels' without an agreement.
The warning was made a day before a meeting of eurozone finance ministers. They will discuss how to reach a deal with Greece to get it more rescue loans by June 30, when the country's bailout program runs out and Athens is scheduled to make a 1.6 billion euro ($1.8 billion) repayment to the International Monetary Fund.
The Bank of Greece said Wednesday that Greeks would face a 'deep recession (and) a dramatic decline in income levels' without an agreement.
The warning was made a day before a meeting of eurozone finance ministers. They will discuss how to reach a deal with Greece to get it more rescue loans by June 30, when the country's bailout program runs out and Athens is scheduled to make a 1.6 billion euro ($1.8 billion) repayment to the International Monetary Fund.
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