The German Minister of Finances Wolfgang Schäuble has ruled out the possibility of a write-off of the Greek public debt, in an interview on German radio. According to the German Finance Minister, a ‘temporary Grexit’ would be the best solution for Greece.

Mr. Schäuble, who commented that the situation in Greece is very difficult, added however that many economists (including ones from the IMF) believe that Greece cannot solve its problems with a haircut.

During the critical talks that recently took place in Brussels, the German Finance Minister had discussed the possibility of a five-year ‘Grexit’, which was however widely rejected.