No Greek relief, Germany said

When it says no, it means no even if it is the IMF that insists. The German government headed by Chancellor Angela Merkel reiterated its opposition to any relief for Greece’s debt. Even though the policies enforced since the sovereign debt crisis in 2011 have failed to restore the Greek economy and the overall situation in the euro area seems to deteriorate significantly – Italian banking system, French debt – Jens Spahn, German Finance Deputy Minister, affirmed that Germany contributes the most to the European Stability Mechanism (ESM) and therefore rejects any Greek debt relief.