Another crisis hitting Greece?

World News Iulia Postelnicu
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In 2015, Greece was hit by a major crisis. Now, a similar thing might approach the country, affecting Europe all over again.

Greece needs to return its debt and it needs the creditors from Europe to release that money. Investors are starting to worry now.

The International Monetary Fund is warning that Greece’s debt could be on a terrible path.

The timing is probably the worse now. In the United Kingdom, the negotiations about Brexit are going on. In other countries, elections are starting: Germany, France.

Greece has little money left and some of the repayments need to be done by July.

If those debts are not paid until then, history will be repeating itself all over again.

However, the government is hopeful. They hope to close a deal soon with the European creditors.

Germany has already warned Greece. Its finance minister said they need to leave the single currency if they want to overcome this debt.

One of its biggest debts are for Germany. IMF thinks that something needs to be done soon or the situation could get worse.

Greece has a bailout plan from the European Union until 2018. Germany hopes that IMF will interfere, without its help Greece won’t be able to get out of this situation.

Tensions are spreading in the country and in other European countries. The timing couldn’t be worse.

Greece’s minister for EU is confident that by the end of February they will figure something out with the union. The situation sits in the hands of IMF. According to the minister, the Europeans do not represent a problem.