Even the IMF says Greece can never pay off its public debts and needs a ‘haircut’ if its economy is to revive. But Germany’s finance minister Wolfgang Schäuble is opposed to any reduction in its debt. Many economists say that's the wrong approach.
German Finance Minister Wolfgang Schäuble, a seasoned stickler, is bidding farewell after eight years. Though anyone in the EU looking forward to a future of more debt may be cheering too soon, writes Bernd Riegert.
As eurozone finance ministers meet to discuss the Greek debt crisis, German Foreign Minister Sigmar Gabriel has demanded a firm commitment to debt relief. The move could cause friction in Berlin in an election year.
The head of the IMF has shifted her position on debt relief for the Mediterranean nation. Germany's finance minister had led the eurozone movement rejecting debt forgiveness for Athens.
There are conflicting reports about how much progress was made during the latest round of negotiations on Greece's debt. But the prime minister has warned that his country is already worn down by six years of austerity.
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