Open for talks

GERMAN Chancellor Angela Merkel says she is prepared to consider further debt concessions to Greece once its latest economic reforms are worked out.

In a television interview, she said she was open to discussing reduced interest rates and extended maturity dates. But Mrs Merkel said this would happen only after details of the latest bailout had been agreed, and reiterated that there would be no debt write-off.

Meanwhile France’s president called for the creation of a eurozone government.

Reviving an idea originally put forward by former European Commission chief Jacques Delors, Francois Hollande proposed “a specific budget as well as a parliament to ensure democratic control” of the eurozone.

“What threatens us is not an excess of Europe but its insufficiency,” Mr Hollande wrote in a French newspaper.