Wednesday, September 5, 2012

Schaeuble's Line In The Sand

The EC is refusing to deny or confirm the story that the Troika will ask private Greek companies to introduce a six day working week.

Meanwhile Wolfgang Schaeuble, the German finance minister, has ruled out a third Greek bailout package:
"The costs for Greece are already very high and therefore we cannot have a new programme for Greece."
Whether this is a sop for the domestic audience, to keep it docile, or a genuine line in the sand is not yet clear.