Merkel sees no certainty that Greek bailout will succeed; rules out cutting country’s debt

German Chancellor Angela Merkel says there’s no certainty the latest bailout for Greece will succeed but she is hopeful the country can overcome its economic crisis if it adheres to the agreements forged with its creditors.

Merkel also told German broadcaster ZDF on Sunday that Greece can’t expect its debt to be cut.

The International Monetary Fund has insisted that Greece must be given some form of debt relief before it will participate in any new bailout, something Germany wants.

But Merkel said while repayment periods may be extended and interest rates can be tweaked, a so-called debt “haircut” is ruled out.

Dozens of lawmakers in Merkel’s conservative bloc plan to oppose the new bailout package for Greece at a special session of Parliament on Wednesday.

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