March 11, 2011 / 8:43 AM / 9 years ago

Eurogroup's Juncker: no doubt about Greek solvency

BRUSSELS, March 11 (Reuters) - Eurogroup chairman Jean-Claude Juncker said on Friday he had no reason to doubt the solvency of Greece after its bailout by the European Union and and International Monetary Fund.

“I have no reason to doubt that Greece is still able to pay,” Juncker told reporters on Friday morning.

Moody’s ratings agency cut Greece’s credit rating by three notches on Monday, citing an increased default risk, increasing pressure on euro zone leaders to ease repayment terms on bailout loans to Athens.

Juncker was speaking ahead of a meeting of European leaders about the situation in North Africa, and a summit of euro zone leaders later in the day to discuss an EU “competitiveness pact” and other efforts to draw a line under the debt crisis.

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