ATHENS, Greece/BERLIN, Germany -- The latest on Greece's financial crisis (all times local):
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10:15 a.m.
Germany's
finance minister says the eurozone must keep to its rules as it
negotiates a new bailout with Greece, which Berlin says rules out an
outright debt cut for Athens in the eurozone.
Wolfgang
Schaeuble told Deutschlandfunk radio Thursday negotiations will
determine whether a new package is possible given Greece's increased
needs.
He added: "We will open negotiations,
we will make every effort, but we must keep to the rules because Europe
is based on the principles of democracy and the rule of law"
Schaeuble
has taken a hardline approach. Last weekend, a paper from his ministry
suggesting the possibility of a voluntary, temporary Greek euro exit
emerged. The minister said Thursday "it would perhaps be a better way
for Greece, and many say that - increasingly in Greece too."
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10:00 a.m.
Germany's
finance minister says the Greek Parliament's approval of an austerity
package is "an important step" but is warning that talks on a final
bailout deal will be tough - and that an outright debt cut would be
incompatible with Greece keeping the euro.
Greece's
creditors demanded the Greek vote before opening full bailout
negotiations. Eurozone finance ministers must approve opening those
talks, as must Germany's Parliament in a vote expected Friday.
Finance
Minister Wolfgang Schaeuble told Deutschlandfunk radio Thursday that
making Greece's debt sustainable will be tough. Germany says a debt cut
would be illegal.
Schaeuble said: "No one
knows at the moment how it's supposed to work without a debt cut, and
everyone knows that a debt cut is incompatible with membership in the
currency union."
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