German Vice Chancellor advocated debt relief for Athens – Financieele Dagblad

Vice Chancellor Sigmar Gabriel

Reuters

the German vice Chancellor Sigmar Gabriel has urged the finance ministers of the euro area to talk with Greece about debt relief. According to Gabriel, it is meaningless to the first signs of Greek economic recovery neck to turn even more austerity measures.

Monday meet the 19 finance ministers of the eurozone on the Greek economy in Brussels. Eurogroup chairman Jeroen Dijsselbloem has talks on debt declared taboo, until agreement is the first “review” of the utility completed last year, including detailed agreements on further economic reforms.

Vicious circle

” the Eurogroup should Monday to find a way to break the vicious circle, “says Gabriel and Minister of Economic Affairs and leader of the social democratic SPD, in an email to Reuters. “Everyone knows that we need at some point debt relief. It makes no sense to shrink back there every time. “

Gabriel has the support of the International Monetary Fund, which Friday even demanded that the Eurogroup will examine Monday on debt relief. If not, then the Germany and Netherlands desired participation of the IMF undermined the utility threatened IMF Managing Director Christine Lagarde.

The IMF has long argued for debt relief for Athens. The explanation of Gabriel is remarkable precisely because the German Finance Minister, Wolfgang Schaeuble, one of the fiercest opponents of the plan.