BUSINESS

Juncker's ultimatum: Comply or default

Jean-Claude Juncker, the head of the Eurogroup, warned Greece through an interview to a German magazine that it will either comply with its creditors? requirements or default, as it should not expect any additional support from its peers.

Speaking to Der Spiegel magazine, Juncker issued an ultimatum to Athens for full compliance to the terms that the European Central Bank, the European Commission and the International Monetary Fund are setting for a 130-billion-euro bailout package that will steer the country clear of default.

?If we are to determine that everything is going wrong in Greece, then there would not be a new program, and that would mean that in March a declaration of bankruptcy would occur,? he told in an interview pre-released on Saturday.

He went on to insist on the significance on public firm privatizations, a term on which Deputy Prime Minister Evangelos Venizelos said on Saturday evening that Athens has reached an agreement with its creditors.

Earlier, the head of the ruling coalition?s third partner, Giorgos Karatzaferis, stated in Thessaloniki that he would not tolerate any ultimatums.

"We need to examine whether the creditors' demands are in favor of growth for the sake of the Greek people, otherwise we will not get the support package. I am not going to sign up to that,» said the leader of Popular Orthodox Rally (LAOS).

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