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07.03.2017

German Ministry of Finance: The question of writing off debts of Greece is not relevant

The question of writing off the debt of Greece is currently not on the agenda. This was stated by foreign journalists in Berlin, German Finance Minister Wolfgang Schaeuble.

"Debt relief - this is not the topic It is primarily about how to bring the (current) program to the end, to agree on the next tranche.", - He said.

"In May 2016, in the Eurogroup, it was decided that in 2018, we will be ready to discuss other measures are medium-term in nature and if 2018 year, contrary to expectations, there will be a need for additional measures, they may be accepted." - Said Schäuble.

For Greece, currently the third with 2010 year is the international macro-financial assistance program, which keeps the country from defaulting. This program was adopted in 2015 in exchange for promises of new reforms of the pension system and privatization of state property. In the program, up to € 86 billion, euro-zone countries participate, they operate through the European stabilization mechanism. The IMF is exploring the possibility of joining this program, but only on the terms of a new restructuring of the Greek sovereign debt, which will mean the loss by European countries of some of the funds previously granted to Athens in the form of soft loans.

A source: TASS

Author: Mikhail Shcherbakov

Tags: Greece, Debt, Economy, Germany