Friday November 28, 2014 Search
Weather | Athens
16o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Schaeuble signals Greece may need more help

German Finance Minister Wolfgang Schaeuble signaled that Greece may need additional help as the country’s most-read newspaper slammed a rescue accord as a “never-ending story” financed by German taxpayers.

Euro-area governments may provide additional funding through the European Union structural fund and further interest- payment reduction as long as Greece meets all its obligations under the agreement, Schaeuble wrote in a letter to German lawmakers obtained by Bloomberg News. Legislators in the lower house, or Bundestag, will vote on the measure as soon as Thursday.

They may confront increased public resistance as Bild- Zeitung, a tabloid that’s called in the past for Greece’s exit from the currency union, pilloried Tuesday’s late-night agreement in Brussels to ease terms on emergency aid for Greece.

“The Greek patient is beyond help,” Bild said in a commentary, adding that the ever-rising costs were falling on German taxpayers. “One hardly needs to imagine the worst scenario: the patient dies, the paramedic goes bust.”

German lawmakers are set to approve the new terms of aid for Greece, where the European debt crisis originated over three years ago. Euro-area finance ministers also agreed to scale back debt by engineering a Greek bond buyback.

The letter comes as euro nations began to tally the cost of the rescue, partly from the European Central Bank’s steering of profit from its Greek bond holdings back to Greece.

Germany’s forgone profit from future ECB Greek holdings will total about 2.74 billion euros, according to Schaeuble. Spain will have an impact worth 1.7 billion euros through 2020, ABC reported, citing Economy Ministry officials. L’Echo reported that forgone profit and reduced interest rates will cost Belgium 90 million euros next year.

Lawmakers from Chancellor Angela Merkel’s coalition and two of three opposition parties voiced approval of the deal as the Bundestag prepared to vote by the end of the week, helping Greece past one of Europe’s biggest political hurdles.

“We’ve always gotten a majority in the past and I don’t think that will change,” Christian Democratic Union parliamentarian Michael Grosse-Broemer, who’s responsible for gathering his party’s votes, told reporters in Berlin on Tuesday. “It’s good that there was an agreement.”

[Bloomberg]

ekathimerini.com , Wednesday November 28, 2012 (13:45)  
Q3 growth was bigger than thought
Who will pay for the state’s ADMIE stake?
Christmas budgets slashed due to higher taxes, healthcare costs
Finance Ministry inundated with applications for debt settlement
Venizelos extends invite to Turkey at start of visit
Foreign Minister Evangelos Venizelos arrived in Ankara Friday night for two days of talks. Ahead of his visit he sought to make it clear that Greece is prepared to discuss maritime issues wi...
Vatopedi trial for 14 suspects
The Supreme Court decided Friday that 14 people should stand trial for the notorious property swap between the Vatopedi Monastery and the state six years ago. Those who will face charges of ...
Inside News
SOCCER
PAOK is one win from Europa League´s last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
Change of US president won´t mean change of foreign policy
Americans have again voted for change in Washington as opposition Republicans take control of both houses of the US Congress. As attention now turns to the 2016 presidential race, it's time ...
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Venizelos extends invite to Turkey at start of visit
2. Vatopedi trial for 14 suspects
3. New proposals on way to troika
4. Cabbie who carried shooter claims he was threatened
5. Gov´t urged to allow Syrian refugees to move on
6. Man accused by MP denies kickback claims, ND links
more news
Today
This Week
1. Greek economy expands 0.7 pct q/q in Q3
2. Child molester suspect photo released by police
3. Change of US president won't mean change of foreign policy
4. Lebanese FM: Cyprus may be jihadi transit point
5. Athens water supply 9-month profit falls 45 pct on lower charges
6. Armed man arrested on Thessaloniki campus
Today
This Week
1. Give Greece a chance
2. Extremism from a bygone era
3. Scientists expand excavation of ancient Amphipolis
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Cosco’s Greek unit adds multinational rail-freight client
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.