German Finance Minister Wolfgang Schaeuble has stated that the country’s debt crisis may be removed by extending the maturities of Greek bonds. This may help to lessen the debt to some extent. For this there is need of private investors who would participate in this.
In an interview with ARD television in Berlin today Schaeuble has told that this will be too early to disclose whether more help is needed. However the “extra measures” may be needed if Greece fails to return to financial markets next year which was planned under the European-led aid program agreed last
According to him, a main part in any extension of maturities is to evade the private sector steadily withdrawing from its positions and shifting the burden to taxpayers. And for this reason they need a certain rule that if an extension is done then everyone has to be extended.
Tomorrow euro-area finance ministers will have discussion for the recovery of the Greek debt crisis in Brussels, Schaeuble has pressed the government to do its part and stay the course on its assurance of finding 50 billion euros
($70.6 billion) in privatization revenue.
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