EURO AREA For the German chancellor, this practice can take place “in the monetary union …”
German Chancellor not to shave gratis. Merkel reiterated on Sunday its opposition to a reduction “classic” of Greek debt, a “haircut”, saying that this practice could take place “in the monetary union.” “He can not be in the monetary union” haircut “classic, that is to say the 30, 40% of the debt,” said the ruling in an interview on public television ARD.
http://www.20minutes.fr/tv/afp-actus/181390-merkel-demande-au-bundestag-de-voter-l-aide-a-la-grece
It is shown however more open to potential new relief granted in Athens. “Greece has already obtained relief. There was a reduction (…) of the debt of private creditors on time (repayments) were lengthened and interest rates were lowered. If the examination of the program to be negotiated is successful, then we can again (the) evoke, “she added.
Greece holds its breath before reopening its banks
This week, just days after the agreement reached in Brussels forceps between Athens and its creditors, many voices were raised to demand Hellenic debt reduction, categorically rejected by Berlin.
On Friday, the IMF Managing Director, Christine Lagarde, said that this debt relief was essential to the viability of a new EU aid. And yesterday, the President of the European Central Bank (ECB) Mario Draghi had found “indisputable” the need to reduce weight, which weighs about 180% of Greek GDP. The option of a “Grexit” was on the table during discussions in Brussels “but we chose another option. And what matters now is the result of these negotiations, “still insisted the Chancellor.
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