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Greek surplus would erase German haircut objections - Schaeuble
November 27, 2012 / 12:50 PM / in 5 years

Greek surplus would erase German haircut objections - Schaeuble

BERLIN, Nov 27 (Reuters) - Germany’s legal reservations about a further write-down of Greek public debt would cease to apply if the country were to reach a sustainable primary budget surplus, German Finance Minister Wolfgang Schaeuble said on Tuesday.

He told reporters there was little time for manoeuvre before the December 13 deadline for a Greek debt buy-back, which is at the heart of a new debt sustainability plan agreed by euro zone finance ministers, but he was confident it would work.

If the buy-back failed to yield the results hoped for, the “troika” of the International Monetary Fund, European Central Bank and European Commission would have to review it, he said.

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