French Economy Minister Emmanuel Macron told German daily Die Welt on Saturday that the German government has resisted a restructuring of Greece’s debts but France insists that it must be eased.

“It is necessary to reduce the debt burden so that the Greek economy does not go under,” he said. “More competition doesn’t mean saving more!”

He underlined the need for investment and deepened structural reforms. He said that a Grexit would be a “step backwards in Europe.”