German Finance Minister rejects second writedown of Greek debt

German Finance Minister rejects second writedown of Greek debt

PanARMENIAN.Net - Germany's Finance Minister has categorically rejected a second writedown of Greek debt, according to The Associated Press.

Wolfgang Schaeuble told weekly Bild am Sonntag in an interview that Greece would continue to receive support beyond 2014 if needed and provided the country meets the demands of international creditors.

Schaeuble was quoted as saying "it's certain, however, that there will be no second debt writedown for Athens."

Extracts of the interview, to be published Sunday, July 28, were released by the paper Saturday and confirmed by the Finance Ministry.

With Germany's general election two months away, Chancellor Angela Merkel's conservative government has been at pains to appear firm on Greece's international bailout, which is unpopular with many Germans.

Last year Greece's debt was restructured with private-sector bondholders.

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