Schaeuble Rules Out Greek Debt Cut as Violation of EU Rules
- Greece would have to leave the euro area, Schaeuble says
- German finance minister comments in broadcaster ARD interview
Wolfgang Schaeuble.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
German Finance Minister Wolfgang Schaeuble ruled out a debt cut for Greece as a violation of European rules, saying the country would have to leave the euro area to do so.
“We can’t undertake a debt haircut for a member of the European single currency, it’s ruled out by the Lisbon Treaty,” Schaeuble said on broadcaster ARD. “For that, Greece would have to exit the currency area.”