19 Feb 2015
German Economy Minister – “We can’t shut door now on talks with Greece” – KBC
FXStreet (Barcelona) - The KBC Bank Research Team comments on Greece’s u-turn and Germany’s reaction to the formers loan extension proposal.
Key Quotes
“Germany has rejected a request by Athens to extend its €172bn bailout despite a significant U‐turn by the new Greek government, which for the first time on Thursday promised to work on completing the economic reform measures required by the current rescue programme.”
“Spokesman Jäger said that Greek proposal was not substantive for a solution: “In truth, it aims at bridge financing without the demands of the programme. The text does not meet the conditions agreed on Monday in the eurogroup”."
“After all, eurogroup president Dijsselbloem called for another extraordinary meeting tomorrow afternoon with the aim of reaching a deal this weekend at the latest following the Greek capitulation.”
“German economy minister Gabriel also downplayed the hawkish Jager comments: “we can’t shut door now on talks with Greece”.”
Key Quotes
“Germany has rejected a request by Athens to extend its €172bn bailout despite a significant U‐turn by the new Greek government, which for the first time on Thursday promised to work on completing the economic reform measures required by the current rescue programme.”
“Spokesman Jäger said that Greek proposal was not substantive for a solution: “In truth, it aims at bridge financing without the demands of the programme. The text does not meet the conditions agreed on Monday in the eurogroup”."
“After all, eurogroup president Dijsselbloem called for another extraordinary meeting tomorrow afternoon with the aim of reaching a deal this weekend at the latest following the Greek capitulation.”
“German economy minister Gabriel also downplayed the hawkish Jager comments: “we can’t shut door now on talks with Greece”.”