Schaeuble: No 3rd Bailout in Store for Greece

Business » FINANCE | September 5, 2012, Wednesday // 20:15
Bulgaria: Schaeuble: No 3rd Bailout in Store for Greece German Minister of Finance Wolfgang Schaeuble. Photo by BGNES

There cannot be any talk of a new bailout plan for Greece, stated Wednesday German FinMin Wolfgang Schaeuble, after talking to Greek counterpart Yannis Stournaras.

Schaeuble was resolute that Greece must remain in the eurozone, but said the country must manage its affairs with the already negotiate bailouts.

Wednesday the German Minister of Finance travelled to Athens to discuss Greece's plans for EUR 11.5 B cuts.

Schaeuble reiterated that the granting of a new tranche of Greece's bailout is conditional on good audit results by the troika comprising the European Commission, European Central Bank and the International Monetary Fund, in October at the earliest.

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Tags: Wolfgang Schaeuble, Yannis Stournaras, greece, bailout, International Monetary Fund, European Commission, European Central Bank, cuts, Greek, German
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