Speaking at the United Nation’s 70th Annual Assembly in New York, Greek PM Alexis Tsipras raised the issue of state debt addressing the other world leaders. ‘We cannot talk of aid to developing countries or loans to developed ones, unless we deal with the debt issue as an international challenge, at the core of our global financial system’, said the Greek PM.

Tsipras added that ways on how to link the restructuring of debt to growth should be sought on all international fora. Tsipras cited Greece as an example of a country being at the epicentre of a three-pronged crisis simultaneously: An economic crisis which had resulted in a 25% reduction in Greece’s GDP with serious social implications; a security crisis revolving around Greece in the eastern Mediterranean region, north Africa, the Middle East and the Black Sea; and a refugee crisis with massive numbers of people fleeing the war zones to seek safety and economic prosperity. The Greek PM said he would consistently promote and support policies aimed at a European and global economic and financial system that would favour growth.