Second Greek debt relief on the cards?

European Commissioner for Euro and Social Dialogue, Valdis Dombrovskis, pauses while speaking at the Atlantic Council on April 15, 2016 in Washington, DC. / AFP PHOTO / Brendan Smialowski

BRUSSELS: Five years after handing Greece the biggest sovereign-debt write-off in history, European policy makers have come full circle to the point they had all hoped to avoid: a real discussion on debt relief.

Despite all the efforts to shrink Greece’s debt since the start of the financial crisis, the country’s economy has shrunk at a faster pace, so its obligations have become increasingly onerous.