Europe is facing, “The real risk for the first uncoordinated state insolvency within the eurozone” if Greece won’t receive further support, warned German Finance Minister Wolfgang Schaeuble in a letter to the President of the European Central Bank, Jean-Claude Trichet and to other Finance Ministers of the eurozone, according to German newspaper Die Welt.
According to the newspaper’s article, it is absolutely necessary that Greece take another aid package.
“The return of Greece to the markets in 2012, as stipulated in the existing program, appears to be unrealistic”, said German Finance Minister Schaeuble.
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