Third bailout cannot be excluded, says Schauble

Greece can achieve the goal of cutting debt to 120.5 percent of economic output in 2020 though a third bailout for the nation can’t be excluded, German Finance Minister Wolfgang Schauble said in an interview with De Morgen.

“Nobody can now exclude that Greece at a single moment may need a third bailout,” the Belgian newspaper quoted Schauble as saying. “I have all confidence that the measures that we have taken and that Greece must now implement -- no simple exercise -- will bring the country on the road to recovery.”

Schauble also said he opposes broadening the European Central Bank’s mandate to something similar to that of the US Federal Reserve, according to De Morgen.

“The ECB cannot and must not finance state debt,” Schauble said in the interview. “The member states must do that themselves.” [Bloomberg]

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