Senior German conservative says future Greek haircut illegal

BERLIN Tue Nov 27, 2012 5:32am EST

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BERLIN Nov 27 (Reuters) - A senior German conservative lawmaker said on Tuesday there was no legal possibility for a debt 'haircut' for Greece in the future, rejecting suggestions that the country may require a writeoff of some loans from 2016.

Gerda Hasselfeldt, parliamentary leader of the Bavarian conservatives, was speaking to reporters after Greece's international creditors reached agreement on reducing its debt. The deal included a recognition that some writeoff of debt held by euro zone governments may prove necessary in the future.

Hasselfeldt, whose Christian Social Union is part of Chancellor Angela Merkel's centre-right coalition, also said she saw no need to offer concessions such as an extension of debt maturity dates to other struggling euro zone states, signalling that Greece is a special case.

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