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Maloney and Bilirakis urge President to support Greece

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Jun 26, 2015

Press Release

WASHINGTON – Congressional Hellenic Caucus Co-chairs Reps. Carolyn B. Maloney (D-NY) and Gus Bilirakis (R-FL) today urged President Obama to support an agreement with Greece that allows for debt repayment and a sensible economic recovery. The Representatives warn that the financial stability of Greece and the entire Eurozone are at risk if Greece defaults.

“As you know, Greece has made its periodic debt payments to the IMF and owes €1.5 billion by the end of this month,” Maloney and Bilirakis wrote. “As another deadline approaches, we hope that the U.S. will actively engage with all parties in the negotiations to help facilitate an agreement that enables Greece to pay back its loans, prevent future financial collapse and expand economic opportunity for the Greek people.”

The text of the letter follows:

 

Thanks for reading Hellenic News of America

Dear President Obama:

We are writing to share our deep concerns and the concerns of our constituents about the economic future of Greece. We know that you understand the urgency of the situation that Greece and its creditors face. It is in our country’s interest for Greece to remain an economically viable member of the Eurozone. Greece has always been a steadfast ally of the United States, and remains a stabilizing force in the Eastern Mediterranean amidst escalating hostilities in the Middle East.

In meetings with Greek officials whom we have hosted along with other members of the Hellenic Caucus, we have stated our belief that without a clear way to renewed, steady economic growth and job creation, the situation in Greece will remain bleak and the stalemate with the European Union will continue. As you know, Greece has made its periodic debt payments to the IMF and owes €1.5 billion by the end of this month. As another deadline approaches, we hope that the U.S. will actively engage with all parties in the negotiations to help facilitate an agreement that enables Greece to pay back its loans, prevent future financial collapse and expand economic opportunity for the Greek people. At the semiannual meeting of the IMF and World Bank, Treasury Secretary Lew warned that a timely agreement with Greece is necessary to ensure the financial stability of Greece and the entire Eurozone. Greece exiting the Eurozone is a scenario that would certainly have a negative impact throughout the global market and affect trans-Atlantic trade.

Again, we hope that the U.S. will support efforts for a sensible economic recovery during these important negotiations and in the future. The U.S. and Greece have always enjoyed a strong relationship, and we hope that we send a clear message that the U.S. continues to support Greece at this critical time. Thank you for your attention to this important matter.

 

Sincerely,

 

CAROLYN B. MALONEY                                                GUS M. BILIRAKIS

Member of Congress                                                         Member of Congress

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