ECONOMY

No aid tranche if Greece fails troika test, German FinMin warns

German Finance Minister Wolfgang Schaeuble said on Tuesday that Greece will not be able to receive another tranche of international aid if the «troika» report from the IMF, ECB and European Commission is not positive.

Schaeuble told a parliamentary budget debate the euro currency would lose the confidence of markets if common euro zone bonds were introduced now.

He also said the IMF’s calculation that European banks need 200 billion euros’ recapitalisation was partly wrong and misleading, and would be discussed by G7 finance ministers at the end of the week in Marseilles.

The minister, who recently called for changes to the underlying European Union treaty, said that the ongoing debt crisis should however be resolved in the framework of the current treaty.[Reuters]