Eurozone Leaders Ready to Relax Greek Fiscal Rules

Eurozone countries are ready to discuss possible relaxation of terms for debt-laden Greece to implement its fiscal policies in exchange for multi-billion-euro loans from the EU and the IMF, Financial Times Deutschland reported on Wednesday.

The troika of international creditors comprising the European Commission, European Central Bank and the International Monetary Fund believes Greece has already breached its fiscal obligations, the paper reported, referring to sources close to the creditors.

While the troika is officially urging Greece to fulfil its obligations, German Finance Minister Wolfgang Schauble has admitted Greece is failing to comply with its reform program, the paper says.

With new parliamentary elections in Greece scheduled for June 17, Greek pro-eurozone parties say they are against a unilateral waiver of agreements with the creditors but expect to get easier fiscal terms.

If other eurozone countries want to keep Greece within the monetary union, they will be unable to refuse holding such negotiations, the paper said.


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