SINGAPORE Oct 14 German Finance Minister
Wolfgang Schaeuble said on Sunday that Greece would not default,
but warned that if Athens did exit the eurozone it would be
damaging not only for the zone as a whole but also Greece.
"I think, it will not happen that there will be a state
bankrupt in Greece", Schaeuble said at a meeting with
business-people in Singapore.
Greece is locked in talks with the European Union, European
Central Bank and International Monetary Fund on a new set of
spending cuts and reforms in exchange for the next tranche of
loans saving the debt-crippled country from bankruptcy.
Greece expects to agree a new austerity package with its
lenders and for the EU and IMF to bridge their differences on
how to cut the country's debt by the time EU leaders meet on
Oct. 18-19, says Greek Prime Minister Antonis Samaras.