Merkel May Consider Greek Write-Off

Angela Merkel said she may consider a write-off of Greek debt if the country reaches a budget surplus. The German chancellor had previously ruled out a write-off deal. “If Greece one day can rely once again on its own revenue without having to borrow, then we’ll have to look at this situation and make an evaluation,” Merkel told a German newspaper. Such a deal would likely not take place until 2014 or 2015, she said. Greece announced Monday that it would begin repurchasing some bonds issued earlier this year.