–FinMin: Haven’t Heard EFSF To Be Involved In Greek Debt Buyback
BERLIN (MNI) – Germany will do what is necessary to defend the
single European currency in the current sovereign debt crisis, a
government spokesman said Friday.
“Everything which is necessary for the euro will be done,”
spokesman Christoph Steegmans said at a regular government press
conference here.
The German government supports the strong commitment of French
President Nicolas Sarkozy for the euro, he said.
On Thursday, Sarkozy launched an impassioned defense of the euro,
declaring that the Eurozone’s two largest members will never let it fail
and that even considering such an idea is out of the question.
Addressing the World Economic Forum in Davos, Switzerland, Sarkozy
declared that “[Germany's Chancellor] Angela Merkel and I will never,
never let the euro fall.”
The German government spokesman declined to comment on remarks by
Greek Finance Minister George Papaconstantinou, who reportedly said
Friday that the idea of buying back the country’s government bonds below
par deserved some discussion.
German Finance Ministry spokesman Martin Kreienbaum said, “I
haven’t read or heard any comments that the European Financial Stability
Facility should participate in any form” in buying back Greek debt.
Kreienbaum repeated that Germany is of the opinion that Greece is
proceeding “very well” on its path to overcoming its debt problems.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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