The Greek Crisis: Obama Called Merkel

The North American president and the German chancellor agreed yesterday that Greece needs to return to reform and avoid leaving the eurozone, said the White House.

In a phone call about the Greek crisis, Barack Obama and Angela Merkel “agreed that it was critically important to make every effort to return to a path that will allow Greece to resume reforms and growth within the eurozone,” indicated the presidency of the United States in a statement.

Greece’s rescue program ends on Tuesday, and the Euro group refused to extend the deadline until it knows the outcome of the referendum, which is scheduled for July 5.

In the meantime, this Monday, all Greek banks will be closed as a way to avoid flight of capital and the immediate collapse of the country’s financial system.

The next few hours will be critical.