RSS Feed
March 5th, 2012 
FAKE NEWS for the Zionist agenda “We reject this Spiegel report,” German finance ministry spokeswoman Marianne Kothe said on Sunday.
“An official or unofficial troika report doesn’t exist. The troika is putting its report together independently,” She added.
The Sunday comments came after Der Spiegel weekly magazine said that the official creditors – European Commission, the International Monetary Fund and the European Central Bank – believe that Greece would not be able to return to the international money markets to borrow in 2015.
Last week, Germany’s parliament supported a second bailout for Greece despite growing opposition on Chancellor Angela Merkel from the public for wasting billions on the indebted Greece. As Europe’s richest economy, Germany must contribute more than any other country in the Greece’s EUR 130 billion bailout fund.
The first bailout, which was approved by eurozone finance ministers on May 2, 2010, was worth 110 billion euros (147 billion dollars).
Greece must also restructure its debt with private creditors by March 12 to receive the second bailout; the plan will allow the country to wipe off EUR 107 billion of what it owes to private banks.
Kothe said that a troika report will only be available once the debt restructuring with the private sector creditors has been completed.
Successive rounds of austerity measures, demanded by international creditors, have forced Athens to massively cut its private and public sector wages, pensions, health and defense spending.
Greece has the highest debt burden in proportion to the size of its economy in the 17-nation eurozone. Despite austerity cuts and the bailout funds, the country has been in recession since 2009.
PG/JR
Posted in 
Tags: 
