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German Chancellor Angela Merkel gestures while speaking during a joint news conference with the Chairman of the tripartite Presidency of Bosnia and Herzegovina, Mladen Ivanic (unseen), following their meeting in Sarajevo, Bosnia and Herzegovina, 08 July 2
German Chancellor Angela Merkel dismissed the option of writing off Greek debt.
During her visit to Bosnia and Herzegovina on Thursday, Merkel said that a so-called “haircut” of Europe's loans to Greece was out of the question, daily Kathimerini reports
The German Chancellor reminded that this was not the first instance Europe was dealing with debt sustainability, as it has previously done in 2012.
Back then, European leaders stretched out the maturities and pushed back the repayment requirement for European Financial Stability Facility (EFSF) loans out to 2020.
She stated that classic haircut is out of the question for her and her opinion has not changed between yesterday and today.
Merkel said this when asked about differences with the International Monetary Fund (IMF) over writing off the Greek debt.
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