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Schaeuble Rejects Haircut On Greek Debt For Public Sector

November 19, 2012 Greek Reporter
German Finance Wolfgang Schaeuble reiterated his opposition to any haircut on Greek debt held by the public sector, speaking during a television interview on Sunday.

Schaeuble told German ARD public television that under national budget rules such a haircut would forbid the government to give any new loans to Greece or sign guarantees for loans given to the country.
“By the way, the European Central Bank, which is [Greece's] main creditor is also categorically rejecting” a haircut on the Greek debt it is holding, he remarked.

Still, Schaeuble said he was optimistic that eurozone finance ministers at the Eurogroup meeting on Tuesday will find a way to grant Greece more time to get its debt under control.
“We must find a common line,” the minister remarked. “And we must find it on Tuesday.”
Company — Greece
  • Full name
    Greece
  • Registration country
    Greece