Schaeuble Rules Out Greek Default as Samaras, Troika Bargain
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German Finance Minister Wolfgang Schaeuble ruled out a Greek sovereign default as the cash-strapped country and international inspectors seek agreement on policies before an Oct. 18 European Union leaders’ summit.
“It will not happen that there will be a ‘Staatsbankrott’ in Greece,” Schaeuble said in English at a forum in Singapore today. “Greece has had to take a lot of very serious reforms” and an increasing majority of the population “does understand that being a member of the common European currency is in the best interest of Greece,” he said.