Germany preparing new Greek aid package: Report

Feb 03 2014, 15:52 IST
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SummaryGermany's finance ministry is preparing the ground for a third aid package for Greece before European elections in May...

Germany's finance ministry is preparing the ground for a third aid package for Greece before European elections in May, Der Spiegel weekly and its website reported on Saturday, citing a five-page ministry 'position paper'.

The possibilities outlined include a further debt haircut that would mainly hit public creditors or a "limited additional programme" in which Greece could receive fresh money from the European rescue fund, the report said.

The package could amount to 10 billion to 20 billion euros, said Der Spiegel, and would be tied to commitments from Athens to undertake reforms with more vigour.

A spokesman for the finance ministry denied that a new debt writedown was planned for Greece.

"There is no new situation," said the spokesman and referred to previous statements made by German finance minister Wolfgang Schaeuble.

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