Germany suggests Greece issue IOUs domestically
The German government has argued that one possible way to help Greece meet its financial obligations in coming days, before a full bailout program is established, is for the country to issue IOUs for domestic needs.
Finance Ministry spokesman Martin Jaeger said Wednesday that "we have included this element in the discussion" among eurozone nations on how to keep Greece afloat while talks proceed on the details of a full bailout deal. The talks are expected to last weeks.
Jaeger said that IOUs are just one of "various conceivable approaches."
Greece needs short-term financing among other things to repay a loan to the European Central Bank due next week and to clear arrears with the International Monetary Fund. [AP]
