Schauble: No debt haircut for Greece, IMF remains

German minister expresses hope an agreement will be reached

German Finance Minister Wolfgang Schauble made it clear that there would be no concessions to Greece regarding the debt relief, in an interview to Reuters. ‘Last summer’s agreement is clear: if the first review of the program is successfully completed and we need to do something with debt sustainability, then we will do it’, said Schauble. He underlined that he saw no need for any debt restructuring based on the current analysis of the debt. The German Minister was also adamant regarding the necessity of the IMF to remain on board the Greek fiscal adjustment program. ‘The participation of the IMF has already been agreed upon. We will allow no-one to blackmail us’, he said. Schauble expressed hope that Greece an d its lenders would reach a deal during talks scheduled to be held on the sidelines of the G20 Summit in Washington. ‘I am quite certain that we will reach a friendly agreement. We will not have a Greek crisis this year’, Schauble said.