German Foreign Minister Says No New Debt Relief for Greece

Wants Greece to continue working on reforms

German Foreign Minister Guido Westerwelle ruled out granting Greece a second round of debt relief on Wednesday, and encouraged the country to stay on the path of structural reforms while he pledged German solidarity for the embattled Mediterranean state.

"A further debt writedown for Greece is not on the agenda," Mr. Westerwelle said on a trip to Greece. He didn't specify whether he meant Greece's debts to its official creditors or money owed to the private sector. Earlier in Greece's lengthy debt crisis, its private creditors accepted losses on bond holdings.

Mr. Westerwelle's Greek counterpart, Foreign Minister and Deputy Prime Minister Evangelos Venizelos, assured his country's commitment to reform, but also said the recession-hit country can't take any more austerity measures.