tagged: extension, german finance minister, Germany, Greece, Greek debt, loan repayment, restructure, restructuring, Schaubel, Wirtschaftswoche, WiWo, Wolfgang Schäuble

German FinMin: Greece on the right track to return to markets

Posted by keeptalkinggreece in Economy

Euro zone’s Big Mama, German Chancellor Angela Merkel  seems to have added some water into her wine of stubborn grapes and makes a tiny verbal U-turn concerning Greece’s debt future. Merkel’s Finance Minister Wolfgang Schäuble expressed himself positive to an extension of loan repayment and opposed the debate on debt restructuring as staged by international media and Cassandra-like economists.

In an interview to German economic newspaper Wirtschaftswoche, Schäuble said “We are currently discussing whether we should extend the repayment time for Greece’s loans”, adding that he believes “the debate on a possible debt restructuring does not help”.

Tuning himself to similar recent statements by the International Monetary Fund, Wolfgang Schäuble said that “The Greek side has sent a clear message that it can handle the debt”.

According to German Finance Minister, the target is that Greece will return to the markets through the program of fiscal adjustment. “Here Greece is on a good track” he added.

Read Full Interview in Wirtschaftswoche(WiWo) in German though.