Greek PM Says Merkel Agreed To Forget Previous Bailout Commitments: Reports

MarketWatch Pulse

Greek Prime Minister Alexis Tsipras said on Friday that he and German Chancellor Angela Merkel have agreed to forget the bailout commitments negotiated under the previous government, media reports said. Speaking at a news conference during the EU summit in Brussels, Tsipras said Athens will implement its own reforms and not carry out any recessionary measures. He also stressed that Greece is not in need of any short-term funding. Meanwhile, European Commission chief Jean-Claude Juncker offered Greece 2 billion euros in unused development funds. The comments come a day after Merkel said new reform proposals promised by Greece need to go further than previous suggestions. They also need to show how Athens plans to reach the targets set out under its bailout deal, she said.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below