Moneycontrol
    Moneycontrol PRO
    Swing Trading 101
    Swing Trading 101

    Greece must back reform to avoid default: EU's Rehn

    If the Greek parliament does not support the government's economic austerity plans it will result in immediate default, European Economics and Monetary Affairs Commissioner Olli Rehn said on Tuesday.

    June 28, 2011 / 16:02 IST

    If the Greek parliament does not support the government's economic austerity plans it will result in immediate default, European Economics and Monetary Affairs Commissioner Olli Rehn said on Tuesday.

    "The only way to avoid immediate default is for parliament to endorse the revised economic programme... They must be approved if the next tranche of financial assistance is to be released," Rehn said in a statement.

    "To those who speculate about other options, let me say this clearly: there is no Plan B to avoid default," he continued.

    first published: Jun 28, 2011 03:53 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347