Merkel: There Is "No Possibility" Of Bailing Out Greece

Angela Merkel


As Europe begins what’s sure to be a very hectic week, the volume of conflicting statements about the Greek bailout is truly stunning.There have been multiple reports of some kind of deal worth $30-$34 billion, and yet check out what Germany’s Angela Merkel told German TV, according to the Sydney Morning Herald:

…the German chancellor denied any such plan was in the works, saying “there is absolutely no question of it”.

“We have a (European) treaty under which there is no possibility of paying to bail out states in difficulty,” Merkel told ARD public television.

Well, actually German will help a little:

“Right now we can help Greece by stating clearly that it has to fulfil its duties,” said Merkel, adding that Greece had to “show great courage” in order to resorb its deficits and restore its “lost credibility”.

Thanks a lot!

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