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Wolfgang Schaeuble: The three institutions will decide on Greek debt

05 May 2015 / 17:05:01  GRReporter
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Germany’s Minister of Finance Wolfgang Schaeuble is sceptical about the likelihood of Greece and its partners reaching an agreement by Monday. He made his statement through the foreign press association in Berlin in connection with the upcoming meeting of the Eurogroup (euro zone finance ministers) on 11 May.

With regard to talks on a possible Grexit, Wolfgang Schaeuble said he would not like to participate in speculations but stressed, "The German government does not want a Grexit."

"This does not mean that we are not ready to do one thing or another. Maybe it was Athens’ mistake to think so. It is more important for Europe to be able to function, to go ahead ", said the German Minister of Finance, adding, "the vioilation of the Stability Pact was Germany and France’s fault" and clarifying, "We have learnt our lesson not to allow such a thing anymore."

"These decisions are not easy but I take them always based on what is best for future European integration", explained Wolfgang Schaeuble.

Furthermore, Germany’s Minister of Finance referred the issue of Greek debt resolving to the three institutions (the European Commission, the European Central Bank and the International Monetary Fund). To the question related to reports that the International Monetary Fund wants a new haircut on the Greek debt, Schaeuble replied the following:

"Assumptions are common before each meeting of the Eurogroup but the negotiations between Greece and the three institutions are underway." Germany’s Minister of Finance also added that, at the last meeting of the Eurogroup in Riga, representative of the International Monetary Fund Poul Thomsen informed that, before the elections in January, Greece was advancing faster than planned in the bailout programme and repeated the forecast that the country's debt would fall to 120% of GDP by 2022.

 

Tags: Germany's Minister of Finance Wolfgang SchaeubleGreek debtGrexit
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