June 16, 2011 / 10:15 AM / 9 years ago

Germany seeks Sept. deadline for new Greek package

BRUSSELS, June 16 (Reuters) - Germany wants the deadline for for a second Greek rescue package to be pushed back to September, reflecting the problems Europe is having hammering out the details, EU and banking sources said on Thursday.

One EU source told Reuters that German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble favoured a delay.

“The argument goes: We don’t know what to do, let’s buy more time,” the source said, adding that Berlin had its customary backing from the likes of the Netherlands, Finland and Slovakia.

A high level German banking source also told Reuters Berlin was targeting September as the point at which all the problems could be solved.

That could include an attempt to square ratings agencies who have said they may view even an ostensibly voluntary scheme to have private investors involved in a new Greek bailout as a selective default.

Earlier this week, euro zone finance ministers failed to agree on how to involve private investors in a second financial rescue for Greece. (Writing by Mike Peacock, editing by Janet McBride)

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