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Schäuble Says No Aid for Athens Without New Programme

The Eurogroup of finance ministers met in Brussels on July 7 in the wake of a strong rejection by Greek voters of the most recent bailout terms for Greece. Arriving at the meeting, German Finance Minister Wolfgang Schäuble said that without a programme of proposals from Greece, there could be “no options” for the eurozone to help the country.

Asked about debt relief, Schäuble cited treaty constraints, saying: “Wer die europäischen Verträge kennt, weiß, dass ein Schuldenschnitt unter das Bailout-Verbot fällt.” (“Anyone familiar with the European treaties knows that a haircut falls under the bailout ban.”) Credit: European Commission