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22ndannualcapital

Bundesbank: Additional measures for Greek debt relief 'not necessary'

In echoing the German government's standing position that debt relief measures in the current phase are not necessary for thrice bailed out Greece, the Bundesbank said high fiscal targets - i.e. surpluses of 3.1 percent of GDP - are, in fact, an additional debt forgiveness measure.

A relevant report by German's powerful central bank said Greece remains in an ESM program until August 2018, while evaluations of Athens' fiscal performance must be judged based on the targets of the bailout program, and not just European fiscal regulations