ECONOMY

Schaeuble dismisses prospects for another Greek haircut

German Finance Minister Wolfgang Schaeuble dismissed on Wednesday the possibility that owners of Greek debt might be forced to accept additional losses on their holdings, saying the risks associated with the country’s adjustment programme were manageable.

Speaking at a news conference on the 2014 German budget, Schaeuble said speculation about a further «haircut» on Greek debt was based on a misunderstanding of what policymakers intended.

“We have said we will not do another haircut like this,» Schaeuble said, referring to the 2011 decision to impose losses on private debt holders.

[Reuters]