German Chancellor Angela Merkel again ruled out the possibility of debt relief for Greece, one of two “pillars” of leftist SYRIZA’s breakneck course to power in the country. The other is a substantial easing of reforms, deep state spending cuts and liberalizaton of the labor market.

In an interview published by the German newspaper “Hamburger Abendblatt”, the German Chancellor said: “There was already a voluntary renunciation of private creditors, banks waived billions of their claims in Greece … I don’t see a new debt relief.”

Among others, Merkel continued by saying “Europe will continue to show solidarity to Greece, as in other countries particularly affected by the crisis, (as long as) these countries implement reforms and cost-cutting measures”.