Merkel Sees Greek Debt Relief Option as Banks Set to Open

German Chancellor Angela Merkel held out the prospect of limited debt relief as crisis-ravaged Greece prepares to reopen its banks three weeks after they were shut.

Merkel told German broadcaster ARD that she’s prepared to discuss the matter once Greece successfully completes the first round of a new bailout. While the remarks don’t go beyond pledges already made by euro-region governments, they signal that the topic could be considered by the end of the year. She ruled out any haircut on Greek debt.