New U.S. Pressure to Germany for “Meaningful Debt Relief” with Greece


United States Treasury Secretary Jacob Lew has increased pressure on Germany to show a bit of flexibility towards talks with Greece on the issue of debt relief— calling for “meaningful debt relief.”

He made the comments during meetings on the sidelines of the G7 meetings in Japan with German finance minister Wolfgang Schäuble, echoing his statements during meetings with other European leaders including eurozone chairman Jeroen Dijsselbloem and French finance minister Michel Sapin.

Mr Lew, according to a Treasure Department statement “underscored the importance of Europe following through on its commitment to put Greece’s debt on a sustainable path through meaningful debt relief.”

Lew also told Mr. Schäuble that “all parties need to be flexible to successfully conclude the negotiations,” according to the statement.

The United States has increasingly applied pressure to both sides— particularly Greece’s European creditors, to come up with a compromise solution that will prevent a Greek bankruptcy— feared as early as July, unless new bailout terms are agreed upon.


1 Comment

  1. Nothing wrong with helping to get a deal done, but why is Secretary Lew using the phrase “meaningful debt relief” when we have no skin in the game? And he isn’t stressing the need for structural reform any more. Why is that? One day, you will learn exactly who is stage managing all of this; hopefully at the next Congressional hearings on Greek topics this will come up.

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