German Finance Minister, Wolfgang Schäuble, Warns of Possible Default by Greece

German Finance Minister Wolfgang Schäuble warned of the possibility of a surprise default by Greece, German newspaper Frankfurter Allgemeine Sonntagszeitung reports in a pre-release of its Sunday edition.

"Experiences elsewhere have shown that a country can suddenly slip into insolvency," Mr. Schäuble said in an interview with the newspaper, ahead of the Eurogroup finance ministers meeting in Brussels on Monday.

• When asked whether the government was prepared for such an eventuality, Mr. Schaeuble said: "There are questions that a sensible politician must not answer."

Mr. Schäuble added that he doesn't expect a concrete agreement with international creditors on fresh aid for Greece at the upcoming meeting, reiterating comments he made earlier this week in Berlin.

Greece has so far been locked in negotiations with its international creditors, sparking questions over whether the country will default on its debt or be forced to exit the eurozone.

However, the minister said that Germany would "do everything to keep Greece in the eurozone," backing German Chancellor Angela Merkel's plans. 
   [advfn.com]
9/5/15
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