As the Greek government continues to meet with French and German officials Dr Dennis Novy, Associate Professor of Economics at the University of Warwick, says that they "need a deal to stop the Greek banking system haemorrhaging even more deposits" as the countries debt worries continue.
Dr Novy's comment in full:
The negotiations between Greece and its creditors remain as tough as ever. Greece is close to having a primary surplus. This means it no longer depends on foreign money to finance day-to-day government spending. And it is highly questionable whether Germany, France and the EU Commission would want to risk pushing Greece out of the European Union. This strengthens the Greek negotiating position. But the Greek economy has weakened further ever since the Syriza government came into power. They need a deal to stop the Greek banking system haemorrhaging even more deposits.
To speak with Dr Novy please contact:
Tom Frew, International Press Officer
Tel: +44 (0)247 657 5910
Mob: +44 (0)7785 433 155
Email: a dot t dot frew at warwick dot ac dot uk
Dr Dennis Novy
Tel: +44 (0) 2476 523032
Email: d dot novy at warwick dot ac dot uk