FT.com / Europe - Germany sets conditions for Greek rescue.
The FT notes Germany has set conditions on the EU assisting Greece:
If there were to be agreement on a “mechanism” to provide such assistance, he said, it could only be triggered once Greece had exhausted its capacity to raise money on the international capital markets; the IMF had agreed to make a “substantial contribution” to a rescue package; and the EU members has agreed to negotiate new rules to prevent any reoccurrence of such a debt crisis.
The paradox of the last is I presume lost on the Germans.
Recurrance is always going to be likely whilst they insist on running a large surplus.
What are they going to do to stop that is the question?
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