Angela Merkel, Chancellor of Germany referred to the new rescue package as a significant political agreement. However, she rejects any possibility of debt restructuring.
Under this decision, we are saving valuable time, stressed the Chancellor. According to her, Greece is dealing with a severe situation, it is over-indebted and has not acquired the requested financial power to overcome the crisis.
She pointed out, that the EU is not in the position to save every European country dealing with similar issues. Unfortunately, the crisis will leave its marks on the market. It is better to give time under strict conditions to Greece, rather than debt restructuring.
Referring to Finland and other European countries, which are against Greece, she stated that she is pleased with the Greek government which accomplished to fight for Europe.
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