Ger­many Rules Out Debt Relief for Greece

The Economic Times - - Around The World -

Ber­lin: Ger­man chan­cel­lor An­gela Merkel ruled out a debt relief for Greece af­ter meet­ing IMF chief Chris­tine La­garde and lead­ers of other global eco­nomic or­gan­i­sa­tions. “In our opinion, it is not legally pos­si­ble in the euro zone,” Merkel said in a joint press con­fer­ence with the lead­ers on Tues­day. A debt relief for Greece had been re­peat­edly re­jected by Ger­man of­fi­cials. Merkel’s re­marks on Tues­day fol­lowed a re­cent leak of a tran­script that sug­gested the IMF may threaten to pull out of Greece’s bailout as a tac­tic to force Euro­pean lenders to write down Greek debts. The Wash­ing­ton-based IMF has not de­cided to join the third bailout worth up to 86 bil­lion euros (about $97.9 bil­lion) to Greece. It is wait­ing for re­view re­sults of Greece’s re­form progress. IANS

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