Jens Weidmann, Bundesbank president, said on Sunday he hoped the new Greek government would continue to tackle its structural problems. “I hope the new government won’t call into question what is expected and what has already been achieved.”
European Central Bank
Benoit Coeure, ECB board member, said in a newspaper interview published on Monday that the ECB would not take part in any debt cut for Greece.
“It is not up to the ECB to decide whether Greece needs debt relief,” Mr Coeure told the German business daily Handelsblatt.
“But it’s absolutely clear that we cannot agree to a debt relief that includes Greek bonds that are located at the ECB,” he said, adding this would not be possible for legal terms.
Günther Oettinger, EU digital commissioner, said on Monday that a debt restructuring for Greece would send the wrong message to other countries in the eurozone.
“If we cut debt [for Greece], that would give the wrong signal to Portugal or Ireland, Cyprus or Spain,” Mr Oettinger told German radio Deutschlandfunk, adding that the new government in Athens had to stick to agreements with its eurozone partners.
Sandro Gozi, Italy’s EU Affairs Minister, said: “After this vote we will have new opportunities to pursue change in Europe to create growth and investment and fight against unemployment.”
Finland is ready to discuss extensions for Greece’s bailout programme if its new government can commit to agreed contracts and promised structural reforms, Prime Minister Alexander Stubb said on Monday.
“We will not forgive loans, but we are ready to discuss extending the bailout programme or maturities . . . But this will not change the fact that Greece must continue economic reforms”.
Johan Van Overtveldt, finance minister, was quoted by VRT network as saying that Greece “must respect the rules of monetary union”, although he added that there was room for some flexibility.
George Osborne, chancellor, urged Greece’s new leaders to act “responsibly”.
He said the election result was not a defeat of austerity but a defeat of failed economic plans and should act as a reminder to Britain that it needed to stick to what it was doing.
Mr Osborne said Syriza’s promises to voters appeared “very difficult to deliver” and “incompatible with what the eurozone currently demands of its members”.
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