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Merkel: No Debt Reduction for Greece

Merkel for Greece German Chancellor Angela Merkel said Saturday there should be no debt relief for Athens, adding to tensions between the new anti-austerity Greek government and its international creditors.
“There has already been voluntary debt forgiveness by private creditors, banks have already slashed billions from Greece’s debt,” Merkel told German newspaper Hamburger Abendblatt.
“I do not envisage fresh debt cancellation.”
“Europe will continue to show its solidarity with Greece, as with other countries hit hard by the crisis, if these countries carry out reforms and cost-saving measures,” Merkel said.
(source: Hamburger Abendblatt, rte)

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