German Chancellor Angela Merkel has pleaded for an extension of Greek debt maturities.
“Greece has to cope with the consequences of its grave errors in financial policies”, Merkel said in an interview to be published by German newspaper Bild.
“You can΄t do that in three years”, as Greece’s bailout program is scheduled to run out in 2013.
However, Merkel repeated her opposition to a restructuring of Greek debt, as “no instruments” for that were available.
Further aid for euro-zone countries needs to be linked to strict conditions and that Germany will veto future bailouts if prerequisites for aid aren΄t given, Merkel concluded.
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