LOGO
LOGO

European Economic News

ECB's Coeure: Greece Must Comply With Existing Debt Obligations

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

European Central Bank Executive Board member Benoit Coeure said Monday that Greece must comply with its existing debt obligations.

He also said that the EU will hold discussions with the new government on the extension of bailout program.

In Greece, the anti-austerity Syriza party emerged the winner in the snap election on Sunday. The party led by Alexis Tsipras had promised to end austerity, renegotiate the country's government debt and possible extension of the bailout program.

"He [Tsipras] has to pay, those are the rules of the game," Coeure reportedly told the Europe 1 Radio.

"There is no scope for unilateral action in Europe," Coeure said. He also urged European leaders to "adapt to a change in government, even a radical one."

In a separate interview to the German daily Handelsblatt, Coeure said the ECB would violate legal terms if it extended any debt relief to Greece.

"It is not up to the ECB to decide whether Greece needs debt relief," the policymaker said. "But it is absolutely clear that we cannot approve any debt relief that we include Greek government bonds held by the ECB."

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Global Economics Weekly Update - Jun 08-12, 2026

June 12, 2026 17:14 ET
Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.