China is confident that Greece’s economy will turn around, after the outcome of Sunday’s referendum. Deputy Chinese Foreign Minister Cheng Guoping said that he believes the Greek debt crisis would be “appropriately resolved.”
According to Reuters, Cheng Guoping said that with the hard work of all parties the Greek economy will recover, however he could not say if the Greek prime minister could attend an emerging powers summit later in the week in Russia.
“Whether or not it can be appropriately handled will not only have an important impact on Greece and its people, but will have an important impact on … the world too,” Cheng Guoping said.
Asked whether Greek Prime Minister Alexis Tsipras might come to this week’s summit of the BRICS group of five major emerging nations — Brazil, Russia, India, China and South Africa — Cheng said that the decision is up to Russia since it is the summit host.
Argentina celebrates the Greek ‘no’
Argentinian President Cristina Fernandez wrote on twitter that Greece’s vote marked “a resounding victory for democracy and dignity.”
Argentina had suffered similar austerity policies imposed by creditors, and especially the International Monetary Fund, in 2002. Then, creditors had also tried to intervene in the country’s politics, according to a Reuters report.
“The Greek people have said ‘NO’ … to the impossible and humiliating conditions that would be imposed for the restructuring of their debt,” Fernandez tweeted. “We Argentines know what this is about. We hope that Europe and its leaders understand the message … that you can’t force anyone to sign their own death warrant.”
Argentina defaulted in 2002 and defaulted again in 2014. However it became one of the world’s fastest growing economy after failing to repay its debtors, showing growth above 8.5 percent between 2003 and 2007.