Market Commentary and Intraday News
Merkel sees progress in Greece's reform efforts
217 days ago
(AP:BERLIN) Germany's chancellor says she thinks debt-laden Greece is making progress in implementing reforms and austerity measures "step by step."
Angela Merkel said in her weekly video podcast published Saturday that Greece's progress is slower than hoped "but on this matter we should always give Greece another chance."
Merkel's comments appeared to signal a further shift in Germany's position toward showing more patience even though Athens has fallen behind on the ambitious reforms and cuts it must implement in return for bailout loans.
The subtle shift comes amid calls from the International Monetary Fund to give Greece two more years to meet the agreed targets.
Merkel, who visited Athens Tuesday, has said that extending the timeframe for Greece's reforms can only be decided after a creditors' assessment expected within weeks.
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