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EU's Barroso: Greece must signal debt commitment

EU's Barroso: Greece must signal debt commitment (by William L. Watts)

FRANKFURT (MarketWatch) -- Greece's most immediate task is to take steps necessary to ensure the release of the latest tranche of aid to the country from the European Union and International Monetary Fund, European Commission President Jose Manuel Barroso said Monday following a meeting with Greek Prime Minister Lucas Papademos. "It is also crucial that the new government send a clear signal that it will not waver from setting its debt on a downward path," he said. Barroso said details of the second bailout program for Greece should be concluded by the end of the year, with a voluntary bond exchange for private investor taking place as planned at the beginning of 2012.