Eurozone finance ministers have made no formal decision on extending maturities for Greece’s EU loans, the German Economics ministers said Wednesday according to MNI.
“We΄re looking into extending them but it΄s wrong to say, it will be lengthened to seven years; that΄s not correct…we΄re examining that,” Rainer Bruederle said.
He also noted he does not expect Portugal or Spain to follow the example of Greece and Ireland and seek financial aid from their Eurozone peers.
“I don΄t believe” this will happen, Bruederle told reporters on the sidelines of a book presentation on the euro crisis. “I don΄t see that because [Portugal and Spain] are still capable of acting,” he explained.
The decisions by EU finance ministers this weekend concerning the bailout for Ireland and a future permanent EU crisis mechanism show that “we are determined to get things back to order again,” Bruederle said.
Moreover, asked by reporters if he really believed that a Eurozone state could ever go insolvent, the minister stressed: “It can go insolvent.”
Still, he said he trusts the efforts by the EU and the Eurogroup will eventually get the sovereign debt crisis under control again.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
