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EC President Juncker Cautions Greece Over Debt Discussions

European Commission President Jean-Claude Juncker has called on Greece to reach a deal with its global financiers.

Juncker cautioned that discussions are not yet progressive enough to come to a rapid resolution. The nation is faced without an influx of money in the near weeks, if it does not find common ground with its international creditors, to receive a new bailout.

In Vienna, the EC President stated, "We are absolutely not satisfied with the course of talks so far. There is urgent need for greater efforts on the Greek side to be able to conclude this matter in our mutual interests." Juncker added, "The intensity of talks has increased in the past four or five days but is not yet at the maturity needed to be able to reach a quick conclusion."

Juncker commented last week, "Greece has a humanitarian crisis which one has to face so it's out of the question to abandon Greece...It is also out of the question to support Greece at any price."

(Source: Reuters)