EU’s Moscovici Optimistic that ‘Fair Solution’ on Greek Debt Relief Can be Reached at Next Eurogroup Meeting
Last Update: 13:36
In an interview published in the Funke group German newspaper on Wednesday, European Union Currency Commissioner Pierre Moscovici said that he is anticipating a deal to be reached between Greece and its international lenders in the next Eurogroup meeting scheduled this week on June 15.
Moscovici said that he sees a good possibility that a “fair solution” on debt relief will be reached. “Things are moving in the right direction,” he said, adding that Greece should be rewarded for its strides and efforts to enforce tough reforms in order to grant the next tranche of loans which is estimated at some 86 billion euros as well as details unblocking new loans for Greece in order to enable the country to make payments due in July.
“No one wants a debt cut anymore. It’s about debt relief, for instance, longer repayment schedules,” Moscovici said during the interview.
After Greece receives the third tranche from the international lenders, it will once again become a “normal member of the euro zone,” Moscovici said. The goal is to return Greece to capital markets in 2018 once the bailout program ends.