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.”
(source: ARD, MNI)
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