Treasury’s Lew Presses Germany to Find “Meaningful Debt Relief” for Greece

22 May 2016
1143 Views

Treasury Secretary Jacob Lew on Saturday called on his German counterpart to act flexibly and implement “meaningful debt relief” for Greece.

At a bilateral meeting with German Finance Minister Wolfgang Schäuble, Mr. Lew “underscored the importance of Europe following through on its commitment to put Greece’s debt on a sustainable path through meaningful debt relief,” according to a statement released by the Treasury.

The two discussed the importance of constructive corporation between Greece, the International Monetary Fund and European institutions to conclude the first review of the debt-stricken country’s economic reform program and “find a sustainable path forward in a timely manner,” the statement said.

Mr. Lew delivered similar messages to Eurogroup President Jeroen Dijsselbloem at a separate one-on-one meeting held Friday, underlying Washington’s concerns over what many policy makers see as a major risk to global growth. Greece could face bankruptcy as early as July if it gets no fresh bailout–a prospect adding to the gloom over European economies struggling with a migration crisis and the rise of populist parties.

Nasdaq.com

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