No Easing Of Greek Bailout Terms: Merkel

In the wake of a victory by pro-austerity parties in the Greek election, Germany’s Chancellor Angela Merkel repeated her insistence that the European Union will not renegotiate the terms of the bailouts Athens has received.

“There won’t be any changes to the memorandum of understanding,” she said at a press conference in Los Cabos, Mexico, where she is attending a G-20 summit.

“The new government in Greece must fulfill their commitments quickly.”

Similarly, British Prime Minister David Cameron, who is also in Mexico, warned that if Greece “wants to stay in the euro zone,” then the country’s lawmakers “have got to get on with it.”

“The outcome of the Greek election looks clear in terms of a commitment to stay in the euro zone and to accept the terms of the memorandum,” he added.

“But I think those parties that want that to happen can't afford to delay and position themselves. If you are a Greek political party and want to stay in the euro zone and accept the consequences that follow, you have got to get on with it and help form a government. A delay could be very dangerous.