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G20 to Examine Possibility of Debt Relief for Greece

n_75061_1The finance ministers and central bankers of the G20 are planning to request Eurozone member states to consider a significant reduction of the Greek public debt, provided that Greece fulfills its commitments to creditors.
Ahead of the G20 meeting in Turkey on September 4-5, a U.S. Treasury official told German Financial Group MNI that Europe must make efforts to increase growth: “Efforts at the European level to boost growth will also help to improve prospects for economic recovery in Greece,” he said.
“In Ankara, we will encourage our European partners to meet their commitment to provide meaningful debt relief while emphasizing that Greece needs to continue to implement reforms. We will also urge the International Monetary Fund to stay engaged with all parties,” he further said.
The U.S. official argued that Greece must continue to implement the agreed upon reforms, so that the country’s creditors and partners may then fulfill their commitment for significant debt relief.

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