Comments from the German Finance Minister:
- Greek debt sustainability is not feasible without a haircut, he thinks the IMF is correct in saying that
- There won't be a haircut because it would infringe on system of European Union
So they need a debt cut but aren't going to get one.
Schaeuble started banging the table and ranting when he was reminded that German debt was written off after the war. He said that's different because there was no monetary union. If anything, a 'union' implies you should get more help from neighbours.
You can see why Athens is getting sick of working with this guy.
