Moscovisi urges Eurogroup to ‘definitely’ ease Greek debt

Moscovisi urges Eurogroup to ‘definitely’ ease Greek debt

European Commissioner for Economic and Financial Affairs Pierre Moscovici on Monday urged the Eurogroup to "definitely" take measures to ease Greek debt at its meeting on Thursday, when it must give the green light for Greece’s exit from the bailout program.

In an interview to France’s Public Senat TV, Moscovisi said that finance ministers and the European Commission must decide on a significant package of Greek debt relief measures on Thursday.

He added that it was not matter of erasing the debt, but of easing its burden. He insisted that Greece’s exit from the bailout program will be a politically “very symbolic” moment for Europe.

Finance ministers of the euro area must agree to the exit of Greece from the aid program at their next meeting Thursday in Luxembourg.

Greece's debt is at 178 percent of its GDP. The country returned to growth in 2017, after nine years of deep recession, and is due to exit the bailout on  August 20.

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