P. Moscovici: Last year’s “Greek drama” over the bailout negotiations will not be repeated this summer

Creditors will ease the Greek debt under the conditions that there won’t be a nominal debt haircut and Greece complies to agreed reforms, said European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Mosovici.

Speaking on French public radio France Info, Moscovici said that the two red lines creditors have set on the Greek debt issue is that there won’t be a debt write off and that Greece should not change any of the reforms it has agreed to implement.

The commissioner said that the Greek debt easing will be discussed in the May 24 meeting of euro zone finance ministers. At the same time he appeared confident that last year’s “Greek drama” over the bailout negotiations will not be repeated this summer.

“I will not have another crisis, because we try to find solutions,” he said, underlining that there is progress in the talks between the two sides.