BERLIN: The German government sounded a note of caution on Tuesday about a third bailout for Greece, saying the new programme must address the debt-stricken country’s “business model” for the next three years.
We’re talking about a programme for three years, it needs to be negotiated thoroughly,” Deputy Finance Minister Jens Spahn told Germany’s ARD television shortly before Greece and its international lenders said they had concluded a new bailout package.
It must be convincing that it’s not just about Aug. 20,” Spahn added.
Just after Spahn spoke, Greece and its international lenders clinched a multi-billion-euro bailout agreement, officials said, raising hopes aid can be disbursed in time for a major debt repayment falling due in days.
But Germany has repeatedly stressed its desire for “quality before speed” in the negotiations.
“It’s not just about making savings, that it works for the budget, but above all about how Greece … earns money in the next few years, what is the ‘business model’ so to speak,” Spahn said.
