Russia Won't Rule Out Loan, But Greece Unlikely to Break Free of EU Control

In an interview published Friday for US business news channel CNBC, Russian Finance Minister Anton Siluanov noted that he would not rule out a loan agreement to Greece should the country appeal to Russia for assistance.

"Well, we can imagine any situation, so if such [a] petition is submitted to the Russian government, we will definitely consider it, but we will take into account all the factors of our bilateral relationships between Russia and Greece, so that is all I can say," Siluanov told CNBC in Moscow on Thursday.

The new Greek government headed by the anti-austerity Syriza Party is facing a tough period of negotiations next month as it sets out to negotiate on its €323 billion debt, three-quarters of which is owed to the countries of the European Union, the European Central Bank and the International Monetary Fund. The country needs to reach an agreement by the end of February in order to be eligible to receive the next tranche of bailout funding. Syriza had run on a platform of renegotiating its debt with European lenders.

Siluanov praised Greece's efforts to prevent the introduction of new sanctions against Russia by the EU, noting that it is "a pragmatic approach." The minister explained that when it comes to sanctions, "there are politicians and there are businessmen. And the pragmatic approach is that this always affects economic growth, employment, social stability in our countries. We have always advocated for the lifting of sanctions. And some of the countries who felt the negative effects of the sanctions being imposed… who felt that their sales in Russia or their exports to Russia have been reduced significantly." Siluanov expressed that "I do understand why they are raising this question."

Deputy Foreign Minister Nikolaos Chountis told Greek media earlier this week that sanctions against Russia are counterproductive, and painful for the Greek economy, which has a significant dependence on Russia for food exports, tourism, and energy imports. "We do not agree with the spirit of the sanctions against Russia that bring negative consequences not only for agriculture but for the country's economy in general," Chountis noted.......................Read more: http://sputniknews.com/politics/20150131/1017588637.html#ixzz3QP6IuUiO
31/1/15
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