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Election will not alter bailout terms – Merkel

WHATEVER the result of Greece’s election this month the country will be expected to comply with the mass privatisations, pay and pension cuts imposed by the most recent bailout “deal,” German Chancellor Angela Merkel said yesterday.

Ms Merkel said she also saw “no possibility” that interest rates on loans to Greece — to allow it to repay its creditors — could be reduced.

Syriza leader Alexis Tsipras has called a new election for September 20, saying he needs a stronger mandate to impose the crippling austerity measures he was initially elected to stop.

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