BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble said
Wednesday he cannot rule out that Greece might need financial aid in
coming years beyond that already offered for 2010.
Eurozone members have said they will provide up to E30 billion in
bilateral loans for Greece this year in a joint programme with the IMF.
The exact IMF contribution isn’t yet known. Schaeuble noted that most
experts estimated the likely IMF contribution at between E10 billion and
E15 billion.
Speaking at a public session of the European Affairs Committee of
the German parliament, Schaeuble remarked that the offered aid was for
the current year. “The amount can become bigger in coming years,” the
Minister acknowledged. “I cannot rule that out.”
Schauble reaffimed that Germany is ready to aid Greece if need be,
warning that a default of the country could endanger the single European
currency.
“We are ready to act, the preparations have been taken,” Schaeuble
said. It remains to be seen if Greece will actually make use of the
offered aid, he remarked. “One should not speculate about that,” he
said.
Eventual aid to Greece would be in Germany’s best interest, the
minister argued, since “a default would put the stability of the
currency altogether into question, thus, one should not run this risk,”
he warned.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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