German’s Hint of Reviewing Greek Debt Relief
Since three years, euro zone's debt crisis is ongoing but Germany's recent hint of Greek debt relief has somewhat raised euro hopes.
The hint-in-talks came from the announcements of Finance Minister that he made last week behind closed doors hinting about tantalizingly at a potential breakthrough.
A meeting was held in Paris of a small group of senior policymakers (three in number), when Mr. Wolfgang Schaeuble indicated chances of agreeing to write off a part of the money that was lent by Berlin to Greece in an effort to make its debt a little sustainable.
All the three present people while detailing about the talks confirmed Schaeuble's suggestions of giving some kind of conditional debt relief for Athens if it sticks to tough economic reforms but Mr. Schaeuble backtracked within 24 hours.
Mr. Schaeuble explaining about his statements told his peers from France, Spain and Italy and International Monetary Fund Managing Director Ms. Christine Lagarde that Berlin could consider Greek debt write-down at a later stage but not now, which indirectly pointed to the possibilities of reviewing Greece's debt outlook somewhere after next year's German general election or before the expiry of second Greek bailout program in the year 2016.
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