“Greece must stop lobbying for a second restructuring of its debt,” German Finance Minister Wolfgang Schaeuble warned on Thursday, saying that “this was not in the country’s best interests.”. Speaking at an event organized by the Greek-German Chamber of Commerce in Athens Hilton, Scaheuble advised Greeks
“My advice is not to continue this discussion. We have to stick to what has been agreed. Anything else is not in the best interest of Greece.”
“Another haircut beyond the 53 percent for the private sector is not doable,” the German FinMin said and reminded that a discussion about the sustainability of the Greek debt will take place in 2014.
Schaeuble praised the efforts of Greece and stressed and still things have to be done and that “the only way to achieve sustainable growth is through boosting competitiveness in order to combat unemployment.
Wolfgang Schaeuble declared “impressed with the Greek achievements.”
PS I am impressed by the German persistence to lower wages to 350 euro.
More on Schaeuble’s speech here – in Greek