Greek Loan Relief May Be Insufficient, Germany’s Schaeuble Says
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Loan relief granted to Greece last month may be inadequate to restore the country’s financial health, German Finance Minister Wolfgang Schaeuble said after European officials again ruled out debt restructuring.
Euro-area leaders decided on March 11 to reduce interest rates on loans for Greece under its 110 billion-euro ($159 billion) rescue package and to extend their maturities. Greece also gained the right to sell bonds directly to the region’s rescue fund.