Greek debt only to be discussed after reforms plan: Moscovici

Ways to reduce Greece's debt can only be discussed after Athens agrees on a reforms programme with its creditors, EU Economic and Monetary Affairs Commissioner Pierre Moscovici said. 

PHOTO: AFP

5 May6:31 PM

[BRUSSELS] Ways to reduce Greece's debt can only be discussed after Athens agrees on a reforms programme with its creditors, EU Economic and Monetary Affairs Commissioner Pierre Moscovici said.

The Commission forecast earlier on Tuesday that Greece's public debt would peak at 180.2 per cent only this year rather than at 176.3 per cent last year because of much lower than expected economic growth caused by political uncertainty.

Asked if the 180.2 per cent level was sustainable, Mr Moscovici said: "As to the debt, I'm not going to make any further comments than those that are in the forecasts. I would simply say that this issue can only be discussed after we have agreed a reform programme which I hope will be consistent, detailed, complete and which will make it possible for the Greek economy to recover because consolidation of the public debt will develop in a positive way and we hope that Greece is committed to that."

REUTERS