German Economics Minister Philipp Roesler rejects having official creditors renounce claims on Greece’s debt, arguing this would blow a hole into Germany’s budget and potentially endanger the country’s top credit rating.
Mr. Roesler, of the business-friendly FDP party in Germany’s center-right governing coalition, told business magazine Wirtschaftswoche that Greek debt forgiveness from official creditors “would ultimately also bleed through to the federal budget and this gap” would need to be filled.
Furthermore, Germany “itself can’t miss its [budgetary] targets, rather must remain an anchor of stability and solidity in the euro zone.”
(source: Dow Jones)
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