FRANKFURT (MNI) – Germany’s Finance Minister Wolfgang Schaeuble is
considering postponing the lion’s share of new Greece aid in order to
keep pressure on Greek authorities to reform, the Financial Times
Deutschland reported on Wednesday.
According to the report, the German finance minister wants to split
the new bailout package into two parts. The first part, consisting of
E30 billion earmarked for Greek banks that participate in the private
sector debt reduction deal, could be released within days.
But Schaeuble would delay presenting legislation to the German
parliament for the larger share of the new bailout money, currently
estimated at around E100 billion, thus effectively holding up its
approval on the European level.
The report cited information available to the newspaper without
specifying its sources.
Delaying the approval of E100 billion would give Germany and other
Eurozone governments more time to secure additional austerity measures
from Greece or even prepare for a Greek default, the paper said. It also
said that Schaeuble had discussed the plan with the finance ministers of
the Netherlands and Finland.
–Frankfurt newsroom +49 69 72 01 42; e-mail: frankfurt@marketnews.com
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