Bundesbank Chief Dismisses Speculation over New Greek Haircut

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Jens Weidman, chairman of the Bundesbank and board member of the European Central Bank (ECB), made it crystal clear that there is no possibility of a further haircut of Greece’s debt. He said that Athens is obliged to make new reforms as fast as possible.

Weidman in an interview on Saturday with the German newspaper Bild, stated that, “a new debt haircut would not be an effective solution to Greece’s main problems. Greece must continue with the difficult path of reforms to their conclusion.”

He added, “Greek officials must work in order for the Greek economy to become more competitive. Then it must become more productive and its primary budget surplus increased further. More help from outside of Greece would only keep the country afloat for a short period of time. In order to recover, Greece needs further reforms.”

Furthermore, he highlighted that the financial crisis in the Eurozone will worsen if member states abandon the reform programme.

 


3 COMMENTS

  1. Mr. Jens Weidman you and I both know the unimaginable debt Greece owes cannot and will not ever be paid back. The Greek people have sacrificed an enormous amount since the austerity measures were introduced. Austerity does not solve the issue. Reforms and enforcing them have not totally yet been effective and carried out smoothly from Samaras and Venizelos to transition. Nor will they. Greece is milking the ECB to get as much money as they can as time allows them.

    You and the rest of the European elite officials have to come to term and decide what is best. I suggest Greece be kicked out of the Eurozone. Saving the euro currency from collapse while keeping Greece in the game is “damn if we do, damn if we don’t.” Useless.

    Game over. Greece needs to exit. And I say this with sincerity in heart

  2. Germany needs to pay Greece war reparations for deaths and destructions they caused during WW2, so start paying c#nts…..

  3. Greece is kept afloat because if they let Greece go-exit the financial institutions of EU will collapse. The banking system of Germany goodbye. Merkel knows this. Jens Weidman knows this. Samaras and his corrupt coalition government know this. They are milking the EU for every last euro they can steal. Trust me.
    This historic euro currency was a big mistake. They all know it. It will be a historic embarrassment for the EURO to COLLAPSE. Germany will no longer rule. They all know it. Question is why have millions of Greek citizens suffering for all this?
    Greece needs to exit and 2014 might just prove it. ?
    Do not listen to any Greek politicians -everyone of them are LYING.
    You might wake up one morning next year 2014 behind closed doors scenes are unraveled and hear news: GREECE DECLARES BANKRUPTCY- EXITS THE EURO.
    GAME OVER!

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