• Germany edition
 
Greece no threat to world economy: ECB man
Photo: DPA

Greece no threat to world economy: ECB man

Published: 20 Feb 2012 16:57 GMT+01:00
Updated: 20 Feb 2012 16:57 GMT+01:00

"Luckily, Greece is no threat to the world economy," Asmussen told the Financial Times Deutschland.

"Nevertheless, other countries expect us to find a solution. But by the G20 meeting at the end of the week, we'll be a great deal further" towards one, he said.

Eurozone finance ministers are meeting in Brussels on Monday to finalise a second Greek bailout in a deal which they hope will also quell suggestions that Greece could be pushed out of the currency area.

The deal to write off €100 billion ($130 billion) of debt and provide loans worth another €130 billion is contingent on painful new spending cuts that Athens must make despite violent protests.

Finance ministers and central bankers from the Group of 20 countries are to meet in Mexico City on February 25-26.

In a separate interview with the business daily Handelsblatt, the ECB's director general for legal services, Antonio Sainz de Vicuna, said the bank was looking into ways for eurozone governments to channel profits from the ECB's holdings of Greek bonds to help Greece.

"There is the political wish for the profits that we make on the bonds to be distributed to the EFSF (European Financial Stability Facility)," the EU's bailout fund, Sainz de Vicuna said.

"Whether and how this can be done hasn't been agreed yet," he said, while insisting that the ECB itself is forbidden from financing governments. "That is a political decision, but the eurosystem must possibly agree to it to ensure that the procedure is in line with the law," he said.

AFP/mry

The Local (news@thelocal.de)

Don't miss...X
Left Right

Your comments about this article

02:34 February 21, 2012 by Russel
ha ha ha.last time someone said something as stupid as this,must have been Chamberlain,regarding Hitler.someone needs to get the ECB board member,to study Economics again.Unless this is all about propping up Merkel at the next elections..because it cannot be based on economic theory..!
Today's headlines
Size does matter in this case, rules judge
Photo:Shutterstock

Size does matter in this case, rules judge

A judge has ordered a deliveryman's manhood to be measured after he claimed in court that it was too small for him to be guilty of exhibitionism. READ  

Crimea annexation unnerves Germans: Poll
Ukrainian soldiers near Luhansk, Ukraine. Photo: DPA

Crimea annexation unnerves Germans: Poll

Almost two thirds of Germans fear Russia plans further land grabs in Ukraine, according to an opinion poll released on the eve of Chancellor Angela Merkel's visit to the conflict-torn country. READ  

Ice bucket challenge gets dumped on Germany
Actress Natascha Ochsenknecht gets doused. Photo: DPA

Ice bucket challenge gets dumped on Germany

German football players, German tennis players, German TV characters and Germany's latest Topmodel winner are on it, but is it actually making a difference? READ  

Defence chief shot down over shooting quip
Defence Minister Ursula von der Leyen tries on military body armour. Photo: DPA

Defence chief shot down over shooting quip

Amid heated debates over arms for Iraq, the Ukraine crisis, and Germany's foreign military involvement despite its WWII legacy, defence chief Ursula von der Leyen stirred a debate of her own on Friday after a dud World Cup gag. READ  

Expat Dispatches
He'll take my name: yes he's really sure!
He says "I will!" Photo: DPA

He'll take my name: yes he's really sure!

A quick and uncomplicated conversation between a recently engaged couple concluded that the husband-to-be would take on a his fiancee's surname. However, everyone's reaction surprised no one more than Australian expat Liv Hambrett. READ  

Newborn white lion cubs are pride of the circus
Photo:DPA

Newborn white lion cubs are pride of the circus

Four white lions born into the Krone Circus during its stop in Magdeburg yesterday find themselves in a Germany reliving a decades-old fight over exotic animals displayed for profit. READ  

Heart centre accused of fiddling transplant list
A donor heart gets delivered to the DHZB. Photo: DPA

Heart centre accused of fiddling transplant list

UPDATE: The German Heart Institute of Berlin (DHZB) is under investigation for attempted manslaughter after evidence showed a doctor manipulated patient data to get them a new heart faster. READ  

Germany sues Swiss bank over missing marks
Julius Bär bank. Photo:DPA

Germany sues Swiss bank over missing marks

Berlin is suing one of Switzerland's largest banks in its bid to recuperate hundreds of million euros that went missing during the reunification of East and West Germany, the bank said Thursday. READ  

Trial of cannibalism fetish cop to begin
The scene of the crime. Photo: DPA

Trial of cannibalism fetish cop to begin

The trial of a German police officer accused of murdering a willing victim he met on a website for cannibalism fetishists starts on Friday in the eastern city of Dresden. READ  

False teeth of the dead: finders keepers?
Coffins awaiting incineration in a crematorium. Photo: DPA

False teeth of the dead: finders keepers?

An Erfurt court has decided not to force a 56-year old man to pay damages for more than 31 kilos of gold teeth taken from the crematorium in Hamburg where he worked between 2003 and 2011. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Photo: DPA
Society
A German journalist shares the story of his US arrest in Ferguson
Photo: DPA
National
Berlin's senate puts the brakes on Über
Photo: DPA
Gallery
The mysteries of Berlin's abandoned theme park
Photo: DPA
Culture
How I deal with my German Hausmeister
Photo: Ingrid Eulenfan/flickr
Gallery
Nine German treats you'll want to eat right now (and one you won't)
Photo: DPA
Society
Who's getting German citizenship?
Photo: DPA
Culture
How World War I changed Germany forever
Photo: APA/DPA
Gallery
The 12 best words in Austrian German
Photo: DPA
Society
'Look at those German shanty towns!'
Photo: Europeana.de 1914 - 1918
Gallery
A German soldier's life behind WWI lines
Education
Raising the bar for law & business in Germany
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
Photo: DPA
Features
The Local List Archive - Your guide to all things German
National
Share news tips with The Local Germany
Photo: DPA
Culture
Sprechen Sie Deutsch? 10 reasons why you should.
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

3,364
jobs available
Toytown Germany
Germany's English-speaking crowd