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Merkel says no grounds to write off Greece's debt

German Chancellor Angela Merkel has said she sees no possibility for writing off the multibillion-euro debt of Greece.

"Private creditors have refused to do this, and banks have already forgiven Greece's (debts) of several billion (euros). I do not see (a possibility) of further writing off the debt," Merkel was quoted by the Hamburger Abendblatt newspaper as saying.

The German chancellor has reminded that one of the conditions for earmarking a new package of financial aid to Athens is the implementation of reforms in the country.

"Europe will continue showing solidarity with Greece and other countries, which have been seriously affected by the crisis, if these countries will try to fulfill the reforms and save funds," Merkel said.

"Germany and other European partners will wait and see what program the new Greek government will propose," she said.

The debt relief has been one of the key demands of the left-wing Syriza party, which won Greece's general election on Sunday. Critics say the intention could lead the country to default.

[Source: Itar Tass, Berlin, 31Jan15]

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