Bank of Canada Governor Mark Carney said additional debt relief for Greece may be part of a way to help ease economic adjustment for the Mediterranean country.
In an interview with Sun News Network to be broadcast at 6 p.m. Ottawa time, Carney said the International Monetary Fund and the European Union are trying to “smooth that path and lessen the adjustment as much as possible.”
“It is the current view that there is a way, through a combination of money through the IMF and European authorities, additional measures by the Greeks, maybe some additional debt relief, that that is the best path for Greece,” said Carney, according to a transcript provided by Sun News.
Carney, who is also the chairman of the Financial Stability Board charged by Group of 20 leaders to coordinate global financial reforms, said Europe is the biggest risk to the global economy in the “medium-term” because of the challenges associated with “re-creating” the region’s monetary union.
(source: bloomberg)
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