Advertisement
Australia markets closed
  • ALL ORDS

    7,957.80
    +32.60 (+0.41%)
     
  • AUD/USD

    0.6514
    -0.0046 (-0.71%)
     
  • ASX 200

    7,703.20
    +27.40 (+0.36%)
     
  • OIL

    82.50
    -0.22 (-0.27%)
     
  • GOLD

    2,158.10
    -6.20 (-0.29%)
     
  • Bitcoin AUD

    98,925.55
    -5,430.30 (-5.20%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

Greece won't leave eurozone, says Italian PM

Prime Minister Matteo Renzi, pictured on June 26, 2015, insists that his budget plans are both within eurozone rules and vital to secure the growth Italy needs to put its public finances in order

Greece will not exit the eurozone regardless of the outcome of the country's referendum this weekend, Italian Prime Minister Matteo Renzi said Thursday.

"As far as I'm concerned, Greece will not leave the euro. It will do all it can to reach an agreement" with its international creditors, Renzi said on Rai 1 television.

Sunday's bailout referendum has divided Greeks, with many saying neither option -- 'Yes' to austerity or 'No' to Europe -- will help pull the vastly debt-laden country out of the financial mire.

Greece's radical left government believes a 'No' vote, rejecting creditors' latest bailout proposals, would strengthen its hand in negotiations.

ADVERTISEMENT

The government said Thursday it may resign if it fails to get its way in the referendum.

Renzi assured that regardless of the outcome Italy wouldn't be in economic problems even ing Greece finally decides to abandon the common European currency.

Earlier the Italian leader had suggested that the Greek referendum equated to a straight choice between the euro and the drachma.

Meanwhile the IMF said Greece needs 50 billion euros ($55 billion) over the next three years, including 36 billion euros more from EU lenders, to stabilise its finances even under existing creditor plans.