Bloomberg News

Schaeuble Says Must Prevent ‘Uncontrolled’ Euro Member Exits

July 27, 2011

July 27 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said European governments must prevent a breakup of the euro region as well as an “uncontrolled” exit of one of its members.

With the International Monetary Fund and the European Central Bank assuming that Greece will have a sustainable primary surplus from 2012, Greece is likely to “master” its debt after implementing economic policy changes, Schaeuble said in a letter to lawmakers from Chancellor Angela Merkel’s government.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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