Any further Greek aid will not include another debt haircut, Schaeuble says
Any fresh aid package for Greece would not include a further debt writedown, German Finance Minister Wolfgang Schaeuble has said.
“If Greece were to need further, limited, financial assistance at the end of this year when the current aid package expires, then we are prepared to do this, provided that Greece has met its obligations by then,” Schaeuble told CNBC Thursday, adding that Greece was “on the right path.”
In 2012, Greece’s private-sector creditors took a 53.5 percent haircut on the face value of their Greek debt holdings. Schaeuble suggested this was an isolated case.
“In the same way that we had a haircut of 53.5 percent for private investors holding Greek government debt, there will be no such haircut, we said then it was a one-off and it will not be repeated.”