Economists against haircut for Athens – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         
 
                                              

 
 
     
     
     
         
         
                                                             Under German economists the idea of ​​a debt restructuring for Greece encounters tough opposition

: “to adopt now debt, the stupidest thing the euro countries can do would be,” said the financial expert Clemens Fuest, head of the Center for European Economic Research, the FAZ “Voters in the highly indebted countries in Europe could only learn that it pays to refuse reforms and blackmailing creditor nations,” warned the ZEW President. It should be clear that the IMF program would be unable to continue because Greece did not abide by the regulations.

                         
         
         
                                                             
                                 

The debate about a new haircut was fueled in the morning after the “Financial Times” reported, the IMF urge the euro area countries, Greece to adopt some of its debt. Otherwise can remit no further aids more the IMF. Finance Minister Wolfgang Schaeuble dismissed the report at noon in front of the foreign press in Berlin but returned. The IMF did not require so. However, it is a normal process that funders need to make sure that the debt sustainability of Greece was given.

                         
         
         
         
             
                                                                      
 
 
 
 
 
     
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

     
     

 
     
 

     
 
     
 
     

 
         
                                                                                                                                                                        © AFP
 
             

Lars Feld

 
             
 
             
 
                             
         
         
     

 

     

 

 
 

 
     
     
                 
                                 
                                                                             
                                                                                                                                                                               
                 
                     
             
                                      Lars Feld
                     
     
     
 

 
                                 
                         
         
         
                                                             

Also, the financial expert and “economy” Lars box does not believe in a renewed debate about a debt restructuring for Greece. “The European partners Greece granted in November 2012 very favorable interest rates at a significantly extended maturity of loans and a partial deferral of interest payments and repayments” field of the FAZ said, “For these loans, the question of debt restructuring does not arise.” More problematic were held by the ECB government bonds and the IMF loans.

                         
         
         
                                                                                                                                                                      

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The ECB could without violating its mandate not refrain from that held by their government bonds to be replaced , The IMF did not want to do without full repayment of the loans granted by him also. “Above all, the payments to the ECB and the IMF press Greece but currently acute.” It still was not acceptable to launch through the IMF once a haircut debate. “Greece needs rather demanded by the IMF and structural reforms to warp back to the growth path,” demanded field.

                         
         
         
                                                                                   

Schäuble: No haircut for Greece required

 
  

 
 
 
                       

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Euro Crisis

economists against haircut for Athens

Can Greece’s debt in the long term contribute? Because there has long been considerable doubt. But now again to adopt the country debt, encounters in Germany on harsh rejection.

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