BUSINESS

Draghi: Debt relief will help Greece repay 'in the medium term'

TAGS: Euro, Banking

The debt relief granted by eurozone governments to Greece will increase the country’s ability to repay its dues “in the medium term,” the president of the European Central Bank, Mario Draghi, said in a letter to a member of the European Parliament published on Friday.

“We welcome the agreement reached by the Eurogroup on 22 June, which we believe will improve debt sustainability in the medium term. We also welcome the Eurogroup’s readiness to consider further debt measures in the long term in case adverse economic developments were to materialize,” added Draghi. [Reuters]

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