In an interview with France’s public radio station France Info, European Commissioner for Economic and Financial Affairs Pierre Moscovici talked about the Greek debt relief stressing that there are two red lines.

The European Commissioner highlighted that there should be a debt relief. But, referring to the two red lines, he said that there won’t be a “haircut” or reduction of the nominal value of the debt. Instead, there will be an action on the management, while the reform program should not change.

Mr. Moskovici argued that an agreement for Greece in Eurogroup meeting to take place on May 24 will include the debt issue, too.

He also stressed that last summer’s dramatic situation between Greece and its lenders will not repeat.

“We will not have another crisis, because we are trying to find solutions,” he said highlight the progress on recent negotiation talks.