Moscovici Pushes Merkel With Pledge for Greek Debt Relief
"We have agreed to lighten the interest burden, lengthen the the maturity of the debt" European Commissioner Pierre Moscovici said. Photographer: Christophe Morin/Bloomberg
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European Union economy chief Pierre Moscovici said Greece’s European creditors have agreed to provide debt relief so long as the country’s government can deliver on the terms of its third bailout package.
The remarks contradict the German position that an easing in the repayment terms on Greece’s debt is up for discussion further down the track. Chancellor Angela Merkel said over the weekend that debt relief is merely an “option” to be considered in the future.