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Foreign news

03 July 2015, 11:02

One of the latest trend of events in the international system is the fact that Greece as a world known civilized country is now in debt.

This debt accumulated when Greece borrowed up to 15 billion dollars from the European Central Bank(ECB), Eurozone countries and the International Moneytary Fund (IMF) of the United Nations for infrastructural, economic and development purposes.

Also read: Foreign players worried about Greece crisis

According to the European Union emergency summit in Brussels, Belgium, which was witnessed and delegated by financial ministers and important officials of top European nations, it has been stipulated that Greece could only come-off their debt crisis if they could still borrow money from their previous creditors, which means more debt if these loans are not well structured or utilized.

However the situation is left to Greece, the E.U. and other European nations to help Greece lift this burden off their chest.

- MyNews24

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