ECONOMY

ECB’s Nowotny: Ways being found to ease Greek debt

ecb-s-nowotny-ways-being-found-to-ease-greek-debt

A solution is being found between the European Union and International Monetary Fund to reduce the debt burden on Greece by extending maturities and reducing interest rates, European Central Bank Governing Council member Ewald Nowotny said on Monday.

“Ways are being found to reduce the debt burden for Greece,” Nowotny told a panel discussion in Vienna.

He added that everything he had heard suggested talks between Greece and its creditors were moving in the right direction.

Greece and its eurozone creditors have reached a deal on many, but not all, issues in the program that Athens is implementing in return for loans, the head of eurozone’s finance ministers, Jeroen Dijsselbloem, said on Sunday.

[Reuters]