Monday, May 16, 2011

Schäuble does not believe that Strauss-Kahn's arrest affect EU rescue plan

Berlin. (EFE) .- The German finance minister, Wolfgang Schäuble, does not believe that the arrest of IMF Managing Director Dominique Strauss-Kahn, to affect the negotiations on the rescue packages in the eurozone. "The IMF is a well-organized and is fully operational and will have a representative in key meetings.

The solution of the problems are not affected by it." Schäuble said in the "Bericht aus Berlin" of the First Chain German Television (ARD). The IMF holds a third over the rescue packages for countries in the eurozone have been involved in the debt crisis. The Eurogroup tomorrow wants to pass an aid package worth Portugal 78,000 million euros.

Also the situation in Greece, which has already received aid amounting to 110,000 million euros, will be discussed at the meeting of ministers of the eurozone. With regard to Greece, Schäuble said that an extension would give them only if there is also participation of private creditors.

Schäuble said that so far the discussions on an extension of credit to Athens are "speculation" but admitted that "next year if Greece can not access the markets then you need to discuss the way forward." "In that case you can not simply improve a bit what was agreed a year ago but would need new elements.

We can not have the private sector to withdraw and that taxpayers have to bear alone the cost of the crisis ", said Schäuble. Strauss-Kahn was also due to attend the meeting of the Eurogroup and today was due to meet in Berlin with Chancellor Angela Merkel.

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