No debt write-off for Greece, Berlin open to other relief forms: Merkel

‘German Chancellor Angela Merkel has once again ruled out proposals to write off some of Greece’s debt, but assures that Berlin is supporting a flexible repayment plan for the debt-laden country.

“There can’t be a classic haircut – forgiving 30 or 40 percent of debt – in a monetary union,” said Merkel in an interview with the German ARD Television on Sunday, adding that Greece had received other kinds of debt relief in the past years such as “voluntary write-down for private creditors, extended maturities and lower interest rates.”

Germany could discuss relief possibilities along those lines again, she further said, noting that this would occur only after details of a new 86-billion-euro ($93-billion) bailout package were hammered out.’

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