ATHENS: German Chancellor Angela Merkel demanded urgent action from the Greek government on Monday after U.S. President Barack Obama voiced his concerns about the standoff over financial aid at a summit of Group of Seven leaders. European Commission President Jean-Claude Juncker said Greece is not doing enough to ensure it can stay in the euro.
Creditors are growing increasingly exasperated with Greek Prime Minister Alexis Tsipras’s negotiating tactics after he rejected the terms of an aid package again last week. Tsipras’s government then used a technicality to postpone a payment of about 300 million euros ($336 million) to the International Monetary Fund.
Juncker said the Greek leader had misrepresented the creditors’ position in last week’s talks in a speech to his lawmakers and wasn’t doing enough to overcome differences with the euro area. In response to those entreaties, Greek Finance Minister Yanis Varoufakis questioned the good faith of his country’s creditors.
