Berlin has ruled out allowing public creditors to write off Greek debt as a way of helping the country overcome its financial woes. However, Germany’s finance minister said he is open to other ways of helping Athens.
Wolfgang Schäuble told the public radio station Deutschlandfunk on Sunday that a new so-called debt "haircut" was completely out of the question.
"That is a discussion which has little to do with the reality in the member states of the eurozone," the German finance minister said in response to a question about a report published in the weekly magazine Spiegel.
Schäuble did, however, raise the possibility of a debt buyback program, which would allow Greece to get loans to pay off creditors.
Source and full story: Deutsche Welle, 29 Oct 2012