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Greek debt reduction `not on radar`: European Commission chief

EU Commission chief Jean-Claude Juncker warned Monday that Greece cannot expect any reduction of its huge debt commitments after the far-left, anti-austerity Syriza party won a stunning election victory.



Berlin: EU Commission chief Jean-Claude Juncker warned Monday that Greece cannot expect any reduction of its huge debt commitments after the far-left, anti-austerity Syriza party won a stunning election victory.

"There is no urgent need for action" on Greece`s debt, Juncker told German television station ARD, adding that a reduction of the debt "is not on the radar".

"I don`t think there`s a majority in the Eurogroup... for a reduction of the debt," he said, referring to the eurozone`s finance ministers.

The head of the Eurogroup, Dutch Finance Minister Jeroen Dijsselbloem, warned Greece earlier that the problems facing the Greek economy had "not disappeared" with Syriza`s victory.

Juncker, who spoke Monday with Syriza leader Alexis Tsipras to congratulate him on becoming prime minister, said the Mediterranean country would have to "move towards the commitments" it had taken previously in respect of its massive bailouts by the EU and the International Monetary Fund.

Juncker vowed to work with Athens "in the interest of all" to consolidate "the considerable progress of the past few years."

"We mustn`t turn the clock back now but work on this basis to enable further progress -- helping Greece to have more growth, more jobs, more investment."

From Zee News

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