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Estonia to strive for maintaining Eurozone stability

Xinhua, July 7, 2015 Adjust font size:

Estonian Prime Minister Taavi Roivas stated that Estonia would take all necessary steps to maintain the stability of the eurozone with its other members and institutions in light of the Greek financial crisis.

"Very intensive work is expected in the coming days by the heads of the euro area and the EU as well as at the level of finance and prime ministers," he said in a official statement quoted by the Estonian Broadcasting Corporation (ERR) on Tuesday.

He believed that the decision of the Greeks to decline the international assistance program would make the situation worse and significantly reduced Greece's chances of emerging from the crisis.

"The reforms in Greece are still inevitable and the decision to reject the international offer of help makes the situation critical," said Roivas, adding that now only bad and worse options remained to solve Greece's situation.

According to Roivas, rejecting the assistance program through a questionable referendum would not in any way help Greece to obtain funding from financial institutions and in no way contributes to solving the situation, which is to build a sustainable economy.

"The reaction of the financial markets proves that there is a considerable increase in uncertainty on an international level and in terms of the financial and economic future of Greece," he said in the statement.

The president of the European Council, Donald Tusk, has convened a meeting of the heads of states of the euro area, which will take place on Tuesday evening. Endit