The European Commission said it will assess Greece’s debt burden and servicing costs once Prime Minister Alexis Tsipras shows his nation will meet the commitments under its new bailout program.
For debt relief talks to proceed, Greece needs to implement the reforms it has already passed, enact further required measures and pass its first program review, European Union Economic Affairs Commissioner Pierre Moscovici told reporters Monday in Brussels. At that point, he said, authorities can review “under what conditions the Greek debt will be sustainable” and how to “reduce the servicing of the debt.”
Debt relief talks should be able to start by the end of November if Greece sticks to the schedule, Moscovici said. He said he’ll be in Athens on Wednesday and Thursday to discuss the program with Tsipras, Finance Minister Euclid Tsakalotos and other officials…more