Germany May Write Off Greece’s Debt Partially
There is no denial that euro zone's debt crisis has been in talks ever since it started, and now Germany's finance minister has indicated that there might be some breather for Greece by letting go some of the money it has given to Greece.
While this has certainly raised hopes, it would be worth seeing if and when it would be done in the first place. It was talked about in the meeting between a group of senior policymakers that there could be some debt written off to make Greece's debt sustainable.
It is believed that this idea proposed by Wolfgang Schaeuble might change the entire scene of Euro Zone crisis as this is for the first time that such move is being thought of to support debt-laden state. He further clarified to officials from France, Spain and Italy and International Monetary Fund Managing Director Christine Lagarde that there are fair chances of the same but now at this moment, but sometime in future.
However, his stance on the same is totally opposite in public domain where he claimed that an official debt write-off would be illegal, leaving many confused as to what he actually intends to do. It would be worth seeing if he would be able to get Chancellor Angela Merkel's agreement on the same or not.
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