EU's Moscovici: No debt relief for Greece

[WorldNews]

The European Union's financial affairs chief Pierre Moscovici said on Monday that Greece needed to repay its debt and could not expect its loans to be written off, adding that Athens needed to implement reforms. There will be no haircut, no debt relief," the European Commissioner for Economic and Financial Affairs said in a speech in Berlin. Moscovici said the contagion risks to the rest of the euro zone from the Greek crisis were "much lower" than they were two years ago but stressed that countries needed to press on with reforms.

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