Euractiv — Speaking at an event in Paris last Thursday, Economic Affairs Commissioner Pierre Moscovici said “I would really like to deliver a very clear message to the lenders of Greece not to play with fire in a decisive week, during which the Eurogroup will meet on the Greek debt.”
He also wrote on Twitter “The European Commission and I hope that there will be no question regarding the sustainability of the Greek debt.”
Talks over Greece’s debt mountain — which stands at 179% of GDP — have been paralysed for months by disagreements between the International Monetary Fund and Germany.
The EU expects Greece’s economy to grow strongly and its government to bring in large surpluses in revenue in the coming years, allowing it to pay down its debts.
But the IMF is less optimistic, arguing there must be further relief for Athens before it can label its debt sustainable and justify loaning Greece any more cash.
German leaders are reluctant to offer yet more unpopular debt relief ahead of their national elections in September, but have also promised lawmakers that the IMF will remain on board.
German leaders are reluctant to offer debt relief ahead of their national elections in September, but have also promised lawmakers that the IMF will remain on board.
