Bloomberg News

Schaeuble Said to Tell Lawmakers Greece Missing Debt Targets

February 13, 2012

Feb. 10 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin today that Greece is missing its debt-cutting targets, according to two people who took part in the meeting.

Schaeuble, briefing lawmakers on estimates by the so-called troika assessing Greek progress, said that Greece’s pledges would leave debt at as much as 136 percent of gross domestic product by 2020, the people said on condition of anonymity because the meeting was held in private. The target for Greece’s debt cuts and bond writedown was to reduce debt to 120 percent of GDP by then.

To contact the reporter on this story: Brian Parkin in Berlin at

To contact the editor responsible for this story: Alan Crawford at

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