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Merkel rejects Greek government's bid for further debt relief

German Chancellor Angela Merkel ruled out the possibility of offering Greece more debt relief on Saturday and stated that she doesn't see "a further debt haircut" in the debt-ridden country's future.

The decision came as a blow to the new Greek government as they had promised voters that they would put anti-austerity measures in place and demand neighbouring countries to write off part of its 320 billion euro ($360 billion) debt.

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Kammenos warns EU: We respect Greece's democracy

The leader of the right-wing party joining Greek election winners Syriza in a coalition government has indicated that the new administration will defend the country's right to follow its own economic polices.

Amid chaotic scenes following negotiations with Prime Minister in waiting Alexis Tsipras, Independent Greeks leader Panos Kammenos told ITV News that his party respected Greece's "democracy" in the wake of a period of damaging austerity.

Both parties are committed to reversing austerity, putting the country on collision course with the European Union - which has placed Greece under substantial pressure to make drastic cuts in a bid to quickly reduce its debts.

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