Obama Greece must undertake reforms in bailout standoff

first_img The vital role family plays in society ELMAU, Germany (AP) — President Barack Obama says the Greek government must undertake economic reforms that will require tough political choices to resolve a standoff over an international bailout and protect global financial markets.He also said that international community needs to recognize “the extraordinary challenges” that Greece faces.Greece is facing a crushing debt and has been negotiating with creditors to release the remaining funds in its international bailout. The International Monetary Fund, the European Central Bank and the European Commission are overseeing Greece’s bailout. The country’s prime minister, Alexis Tsipras (TSEE’-prahs) said Friday that proposals put forth by its creditors were an unpleasant surprise.Obama said Greece needs to satisfy creditors and help revive the Greek economy.Obama comments Monday in Germany came at the close of a two-day international summit.Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Get a lawn your neighbor will be jealous of Here’s how to repair and patch damaged drywall Ex-FBI agent details raid on Phoenix body donation facility US President Barack Obama speaks to media during a bilateral meeting with Iraqi Prime Minister Haider al-Abadi during the G-7 summit in Schloss Elmau hotel near Garmisch-Partenkirchen, southern Germany, Monday, June 8, 2015. (AP Photo/Carolyn Kaster) Top Stories New Valley school lets students pick career-path academies Comments   Share   Milstead says best way to stop wrong-way incidents is driving sober Arizona families, Arizona farms: A legacy of tradition embracing animal care and comfort through modern technology Sponsored Stories last_img

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