• 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
German kids 'growing up sitting down'
Photo: DPA

German kids 'growing up sitting down'

Too much sitting is bad for you, as we all know. But health experts warned on Monday that half of German children have firmly adopted the sedentary and damaging habits of their parents. READ  

Business makes confident start to 2015
A worker checks compensators in a Baden-Württemberg factory. Photo: DPA

Business makes confident start to 2015

German businesses are confident about the outlook for Europe's biggest economy, a new poll showed on Monday, as a weaker euro and falling oil prices are set to boost the country's exporters. READ  

'Stick to the plan': Germany to Greece
Syriza leader Alexis Tsipras celebrates the party's election victory on Sunday. Photo: DPA

'Stick to the plan': Germany to Greece

UPDATE:German Chancellor Angela Merkel expects the new Greek government to uphold its commitments to international creditors, her spokesman said Monday after the electoral triumph of Greece's anti-austerity leftists Syriza. READ  

Give refugees holiday homes: Berlin official
Monika Herrmann attempts to mediate in a refugee dispute in 2014. Photo: DPA

Give refugees holiday homes: Berlin official

Amid rising tensions around the Pegida movement, a Berlin official stirred alarm on Monday with a proposal to commandeer private holiday apartments to house asylum seekers. READ  

Parties welcome Gabriel's Pegida meeting
Vice-Chancellor Sigmar Gabriel in Dresden on Friday. Photo: DPA

Parties welcome Gabriel's Pegida meeting

Politicians welcomed Vice-Chancellor Sigmar Gabriel's controversial decision to meet members of anti-Islam movement Pegida on Friday. READ  

Self-driving cars to hit German Autobahn
Hopefully there won't be any roadworks on the test stretch. Photo: DPA

Self-driving cars to hit German Autobahn

A section of the A9 Autobahn in Bavaria will be converted into a test route for self-driving cars, Transport Minister Alexander Dobrindt said on Monday. READ  

 Deutsche Bahn wins allies in air cartel suit
Deutsche Bahn's HQ in Potsdamer Platz in Berlin. Photo: Volker Emersleben/DB

Deutsche Bahn wins allies in air cartel suit

Rail operator Deutsche Bahn said Sunday it has been joined by several companies in a 2.9 €billion euro lawsuit against Lufthansa and other airlines for fixing air cargo prices. READ  

Merkel phones Putin over Ukraine violence
German Chancellor Angela Merkel and Russian President Vladimir Putin. Photo: DPA

Merkel phones Putin over Ukraine violence

Chancellor Angela Merkel urged her Russian counterpart Vladimir Putin in a phone call on Sunday to "put pressure" on Ukraine's pro-Kremlin separatists to end a recent upsurge in violence. READ  

New anti-Islam march draws 17,000  people
The Pegida demonstration in Dresden on Sunday. Photo: Arno Burgi/dpa

New anti-Islam march draws 17,000 people

Thousands of people joined a march by the anti-Islamisation PEGIDA movement on Sunday, the group's first rally since threats surfaced against the group and its leader resigned over "Hitler" photos. READ  

Anti-Muslim rallies 'hurt Germany's image'
Police prepare for the demonstration on Sunday on Dresden's Theaterplatz. Photo: Arno Burgi/dpa

Anti-Muslim rallies 'hurt Germany's image'

Hours before a new rally in Dresden by the anti-Islamisation PEGIDA movement on Sunday, Foreign Minister Frank-Walter Steinmeier said the group's sentiments were harming the nation's image. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
The best regional foods TTIP opponents want to protect
Photo: DPA
Features
The rise and spread of Pegida
Photo: Shutterstock
Culture
This cosplayer did not think his plan through
National
Europe in statistics - from Spain to Sweden
Photo: DPA
Politics
The Local's report from Pegida's largest ever demonstration.
Sponsored Article
Top-notch tech boosts bilingual schools
National
Six stories that will rock Germany this year
Photo: DPA
National
Terror alert at a new high. Should you be worried?
Dresden skyline and river by night. Photo: DPA
Politics
What does Dresden have against Muslims?
Photo: DPA
National
What were your favourite news stories of 2014?
Gallery
Top 12 German idioms
National
Why has The Local got a new logo?
Photo: DPA
National
This German was abducted and tortured by the CIA
Culture
10 top tips for partying in Germany
Photo: DPA
Technology
What does the Chancellor see as the future of the internet?
Photo: DPA
Berlin
The Local's series on 25 years since the fall of the Berlin Wall
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
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

1,428
jobs available
Toytown Germany
Germany's English-speaking crowd