ECONOMY

Austrian Finmin sees crisis of confidence in Greece

Greece’s international partners have lost trust in Greece, Austrian Finance Minister Hans Joerg Schelling said on Friday, underscoring that Athens needs to stick to conditions of its current rescue and saying a fresh debt haircut would do no good.

“We have a crisis of confidence with Greece,” the conservative minister told reporters. “Something is decided every day and on the next day it doesn’t apply any more.”

Addressing speculation of another debt haircut for Greece, he said: “You can easily calculate this: it brings nothing.” He said it would not ease Greece’s budget problems and was no solution to its fiscal woes. He said the Greece problem “will occupy us for some time. I don’t know what will emerge.”

[Reuters]