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Schaeuble Sees No Greece Debt Relief as Long as Debt Sustainable

  • Agreed budget target for 2018 `appears possible:' Schaeuble
  • `No desire' to repeat last year's Greece-EU standoff
Wolfgang Schaeuble

Wolfgang Schaeuble

German Finance Minister Wolfgang Schaeuble said Greece doesn’t need debt relief now and won’t require an easing of its debt burden as long as the troika of creditors determines that debt sustainability is ensured.

The European Stability Mechanism, the euro region’s financial backstop, will seek to lock in the favorable refinancing costs it’s passing on to Greece for an extended period of time, Schaeuble said in Amsterdam. While not part of the Greek program, these operations -- if in place -- would help ease pressure on Greece, he said.