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Posts Tagged ‘germany and greek debt’

No to ‘Quantitative easing’ – ‘No to privatizing of profits and the socializing of losses’ and ‘No to instant easy-fix solutions’ says German Minister of Finance Wolfgang Schäuble – by OTA-Berlin Constituency Blog contributor Mr W van Coeveren

Thursday, October 13th, 2011
Wolfgang Schaeuble

The German Minister of Finance Wolfgang Schäuble is reported to have said yesterday that non-government private commercial lenders to Greece should either take a hair-cut or be given a hair-cut.
Brussels also wants these private banks to accept ‘haircuts’ – losses- of 30%-50% of their holdings in Greek debt instead of the presently agreed 21%.
In other words private banks should […] Continue Reading…

Merkel – two steps forward …one step back- changes her stand on Greek Debt

Monday, June 20th, 2011
Wolfgang Schaeuble

The German Chancellor Angela Merkel yesterday reiterated her firm view that “substantial” aid from private creditors is necessary to resolve Greek debt concerns.

Greece is facing imminent default on its state loans owed and the question is whether or not to release the next instalment of circa 12 billion Euro which they need to pay their outstanding bills next month.

The […] Continue Reading…