The German chancellor Angella Merkel and her Minister of Finances Wolfgang Schäuble have rejected the possibility of a new haircut of the Greek debts after the upcoming September elections.
Mrs. Merkle, who was interviewed by the Märkische Oderzeitung and Südwest Presse newspapers explained that there is no possibility of a further haircut of the Greek debt. A further haircut would burden the other Eurozone partners with many more billions of euros
According to Deutsche Welle, Mrs. Merkel maintains that the German government supports Greece on a European level and through a series of bilateral initiatives will help in the difficult recovery process.
