Bloomberg News

Third Greek Bailout Package Can’t Be Excluded, Schaeuble Tells De Morgen

March 12, 2012

Greece can achieve the goal of cutting debt to 120.5 percent of economic output in 2020 though a third bailout for the nation can’t be excluded, German Finance Minister Wolfgang Schaeuble said in an interview with De Morgen.

“Nobody can now exclude that Greece at a single moment may need a third bailout,” the Belgian newspaper quoted Schaeuble as saying. “I have all confidence that the measures that we have taken and that Greece must now implement -- no simple exercise -- will bring the country on the road to recovery.”

Schaeuble also said he opposes broadening the European Central Bank’s mandate to something similar to that of the U.S. Federal Reserve, according to De Morgen. “The ECB cannot and must not finance state debt,” Schaeuble said in the interview. “The member states must do that themselves.”

To contact the reporter on this story: Andrew Clapham in Brussels at aclapham@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus