• Germany's news in English
 

Greek debt relief decision expected on Monday

Published: 17 Feb 2012 16:13 GMT+01:00

A German Finance Ministry spokesman told a regular government briefing there were still outstanding questions over an escrow account for debt repayments, surveillance of policy, financing gaps and debt sustainability.

Officials were likely to continue hashing out details until Sunday, said Martin Kotthaus.

"I assume that we will have a solid basis on Monday, from which the ministers will then be able to take a joint decision. This is all positive of course," he said. "However, it is still too early to say how the decision might turn out."

Eurozone leaders have been negotiating a Greek rescue package of €130 billion and a write-down of privately held government bonds worth €100 billion to avoid Greece defaulting on its debt package that comes due as early as next month.

After a conference call between the leaders of Germany, Italy and Greece, the Italian government released a statement saying officials were “confident” a deal would be reached to take pressure off Greece.

Meanwhile police continued to struggle to keep protests in Athens under control. They briefly detained then released eight Germans protesting outside the embassy on Friday after someone threw an egg at the building.

German activist group Schwabingrad Ballet held up placards saying "Greece selloff – not in our name" and "No to this memorandum," a reference to the EU-IMF fiscal adjustment applied in Greece.

Germany has been leading the call for tighter austerity measures in Greece arousing public anger and animosity which has reached unprecedented levels.

The Local/AFP/mdm

The Local (news@thelocal.de)

Your comments about this article

13:11 February 19, 2012 by Grumpy Old Man
I've heard this before. Which Monday do they mean? Which week?
21:34 February 19, 2012 by raandy
Whats the point, Greece is doomed ,so sink this EU ship to no where and get the European Free Trade agreement up .
09:15 February 20, 2012 by jpl82
When your on a sinking ship it only makes sense to help bail out. No sense in kicking the one doing the hard work over board it's not like that helps plug the hole.
10:35 February 21, 2012 by luckylongshot
This all seems to be about shifting the loss on Greek debt from the Banks that should be paying for it to the taxpayers of Europe who should not. As the earlier comments so correctly point out Greece is doomed to fall out of the Euro. Our politiicians deserve to go to jail for continuing this charade at our expense.
Today's headlines
Extreme heat causes Autobahn to rupture
A fissure on the Autobahn near Heidelberg. Photo: DPA

Extreme heat causes Autobahn to rupture

The heatwave sweeping across the country may have Germans flocking to the sea this weekend, but the extreme temperatures are also causing Autobahns to break apart. READ  

Nazi island resort to be turned into luxury flats
Photo: Wikimedia Commons

Nazi island resort to be turned into luxury flats

A vast Nazi mega-complex meant as holiday homes for German workers and later used by the Soviets as a Cold War barracks is about to be turned into luxury flats. READ  

Greece crisis
'Bundestag must vote on new bailout': Schäuble
A poster of German Finance Minister Wolfgang Schäuble in Athens reads "For five years he has sucked your blood. Now tell him NO." Photo: DPA

'Bundestag must vote on new bailout': Schäuble

UPDATE: Finance Minister Wolfgang Schäuble said on Friday that there would be no quick release of bailout funds to Greece after the country's referendum on whether to accept its creditors' terms on Sunday. READ  

Activists give Dalai Lama 80th birthday stamp
The new Deutsche Post stamp showing the Dalai Lama. Photo: DPA

Activists give Dalai Lama 80th birthday stamp

Pro-Tibet activists have created a new limited-edition stamp featuring the Dalai Lama to mark the Tibetan spiritual leader's 80th birthday. READ  

Women's World Cup
'Germany will crack England': top coach
Star striker Celia Sasic. Photo: DPA

'Germany will crack England': top coach

The manager of European champions FFC Frankfurt told The Local he expects Germany to beat England in the third place play-off in the Women's World Cup, and predicted his protege Celia Sasic will grab a goal or two. READ  

NSA surveillance scandal
Calls grow for govt to act on NSA spying
Chancellor Angela Merkel, the highest-profile German victim of NSA spying, speaking on the phone. Photo: DPA

Calls grow for govt to act on NSA spying

Green Party security expert Konstantin von Notz told The Local on Friday that Chancellor Angela Merkel is failing to restore faith in the German-US partnership following fresh spying revelations. READ  

Germany reach semis of beach volleyball worlds
Ilka Semmler and Katrin Holtwick. Photo: DPA file

Germany reach semis of beach volleyball worlds

Germany's top beach volleyball pair are storming the world championships in Holland and prepare to face Brazil in the semis on Friday. READ  

Environment minister blasts Merkel, colleagues
Environment Minister Barbara Hendricks. Photo: DPA

Environment minister blasts Merkel, colleagues

Environment Minister Barbara Hendricks loosed a broadside against her cabinet colleagues on Friday in a guest article for Die Welt, saying that they had decided to do too little to reduce carbon dioxide (CO2) emissions in a way that would cost too much. READ  

Greece crisis
BILD polls readers in own 'Greece referendum'
Image: BILD/screenshot

BILD polls readers in own 'Greece referendum'

Tabloid Bild continued its campaign against bailouts for Greece on Friday by calling its own "referendum", asking readers to fill out a poll on whether Germany should keep stumping up. German politicians were divided on how the Greek vote would affect Europe. READ  

Police confiscate WW2 tank hidden in cellar
The Panther tank removed from a cellar in Kiel, with a prosecutors' evidence label attached to its barrel. Photo: DPA

Police confiscate WW2 tank hidden in cellar

Police searched a villa in a wealthy suburb of Kiel on Wednesday and found a Second World War tank, a torpedo and other weaponry in the cellar. On Thursday they were still working on removing the tank. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Police seize pensioner's WW2 heavy weapons haul
National
How to survive the Europe-wide heatwave
Sport
Is Schweini already out of the door at Bayern?
Politics
How German media shaped the Greece crisis
National
Car assembly robot crushes worker at Volkswagen
Rhineland
Weathermen red-faced over heatwave snow warning
Society
An eye for an eye? Mum protects child in playground with pepperspray
National
As it happened: Queen Elizabeth's final day in Germany
National
As it happened: Queen Elizabeth's second day in Germany
National
Queen Elizabeth II's first day in Germany - as it happened
National
Bus passengers tell fake racists where to get off
Politics
What's really in the Queen's handbag?
National
Germans say USA doesn't respect freedom
National
Yes, you CAN buy adult e-books before 10pm in Germany
VIDEO: Watch a 93-metre turbine crash to earth in slow motion
Gallery
Who's got a shot at the German Film Awards
Rhineland
Anger over 'child-free' beer garden
National
How do you do, Majestät?
National
Man defends right to pee in public with tear gas
Features
The Germans who won Waterloo for the British
Frankfurt
Should Germany ban circus animals?
Hamburg
Where people are having the most sex in Germany
Culture
Who Wants to be a Millionaire? Not this student...
National
Dresden's three-decade-long red light
Politics
Upper house calls for gay marriage now
Berlin
Berlin named 3rd-best city worldwide
Sport
In search of the toughest firefighter
Business & Money
German firms shine for European engineering students
Gallery
Hitler's paintings up for auction
National
German's 70-year search for murdered US pilot
Politics
What the G7 leaders agreed at Elmau
Business & Money
What really makes Germans happy
National
Playmobil builder leaves worldwide legacy
National
The car share that became a drug run
Politics
What Snowden revealed to Germany
Rhineland
Why wolf cubs are being raised by hand
National
Hitler's booze cave found
National
Environment makes Germany worth living in
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

6,998
jobs available
Toytown Germany
Germany's English-speaking crowd