German FinMin Blasts Greek Proposal: Debt Restructuring Impossible, “Everyone Knows They Can’t Be Believed”
by Tyler Durden
ZeroHedge.com
07/11/2015
In the face of Latvia’s outgoing President’s comments, that debt writedowns for Greece will only come after the bankruptcy of the state, German finance minister Schaeuble has once again gone on the offensive this morning saying that “we know from the Treaties that debt relief is not possible,” yet noting that “the need for help for Greece is obvious.” However, his concluding, seemingly ad hominem, remarks are the most troubling for those expecting smooth passage of Greek proposals and a renewed rally to record stock market highs… “Greeks won’t pay their bills… everyone knows they can’t be believed.” Just what exactly is Greece so enamored by that keeps them in this union – especially when friends are likely waiting to help post-Grexit.
The Rest…HERE
