Debt relief provided Greece meets its commitments, EU Commissioner Moscovici says
European Commissioner Pierre Moscovici on Tuesday said Greece’s European creditors have agreed to provide debt relief provided that the government can deliver on the terms of its third bailout package.
“The Eurogroup has already has discussed this,” Moscovici said on RMC radio, according to a Bloomberg report. “We have agreed to lighten the interest burden, lengthen the maturity of the debt. It’s something that can be done when the time comes, after the negotiation of a good program of development and assistance,” Moscovici stated.
Moscovici ruled out a straight writedown of Greece’s debt.
“There is resistance across Europe to doing a haircut. In Germany but also in France,” he said. “It’s not a restructuring. It’s a re-profiling,” according to Bloomberg.
