Government sources denied that German Finance Minister Wolfgang Schaeuble has set a Grexit issue at the Eurogroup meeting that is underway in Brussels.
According to a German Finance Minister internal document published in the Sunday edition of Frankfurter Allgemeine Zeitung, Germany is not satisfied by the Greek proposals and recommended two other options for Greece.
The first option is «Greece to improve its proposals with the total support of the parliament” adding among others that Greece should transfer its asset to a Fund that will sell them off and the revenues will be used to pay off the debt.
The second option foresees ‘negotiations with Athens for a “time out”. Greece will leave from the eurozone for five years at least and restructures its debt. It remains member of the European Union and continues to receive ‘technical, humanitarian and growth support”.
The German Finance Ministry’s internal document also said that “Key-reforms with aim the country’s modernisation lack from the Greek proposals as well as a long term promotion of the financial development and sustainable growth” and for this reason the proposals “can’t become a basis for, a totally new, three-year programme from the European Stability Fund (ESM).