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Europe Daily Bulletin No. 10356
Contents Publication in full By article 14 / 40
GENERAL NEWS / (eu) eu/ecofin

Schaüble thinks Greece might need more aid

Brussels, 11/04/2011 (Agence Europe) - Germany's finance minister, Wolfgang Schaüble, thinks that Greece might need additional aid because its public deficit might exceed the targets set for 2010. Talking after the meeting of EU finance minsiters on Saturday 9 April on the outskirts of Budapest, he said that nobody knew for certain, not even the Greek government or the Greek finance minister, whether the relaxing of conditions on the current loans would be enough (reducing the interest rate on the loans by 1% and extending repayment periods to seven and a half years). His comments are in stark contrast to the repeated expression of optimism from the European Commission and the European Central Bank, which say that no debt restructuring will be required in Greece and the austerity programme should allow Greece to borrow directly from the money markets in 2013. (M.B./transl.fl)

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