BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble said
Friday he expects a decision by the European Council on the Greek
request for aid only “in the week after next week.”
It will take some time before Greece will have met the
preconditions for the aid, namely a credible consolidation plan also for
the years 2011 and 2012, Schaeuble said. “It is not to be expected that
a decision will be taken in the next days,” he asserted.
The minister said the German government had been surprised by
today’s decision to activate the aid mechanism. In a telephone call with
the Greek Finance Minister he had tried to convince him to still wait a
couple of days, Schaeuble explained.
The minister announced that he will meet with the leaders of the
German parliamentary groups on Monday morning. Schaeuble repeated that
German loans to Greece will come from the state-owned KfW bank. The
loans will be then guaranteed by the German government.
Schaeuble said he aimed to seek approval for the guarantees in
parliament and hoped to convince the opposition that it will agree to a
fast-track law procedure.
Earlier on Friday, Germany’s main opposition party, the center-left
SPD, said it was willing to support the government in an eventual
financial aid for Greece if it informs parliament quickly and gives it
enough time to deliberate.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$$FX$,M$X$$$,M$$CR$,MGX$$$,M$G$$$,MFX$$$]
]
