Schaeuble says has no qualms about backing Greek bailout

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said on Monday he had no qualms at all about urging fellow lawmakers to approve a new bailout for Greece in a parliamentary vote on Wednesday, citing a dramatic change in the Greek government's readiness to reform.

"I can argue with full conviction, partly because I haven't taken this decision lightly myself ... that the right thing to do is to vote for this," Schaeuble said in an interview with German public broadcaster ZDF.

He described existing loan terms to Greece as "very generous" but said he was convinced steps could taken that would reassure the IMF on Greece's debt sustainability and ensure their involvement.

"I am very sure that we will come to a common assessment and I am also sure that the IMF, whose role we have described as indispensable, will take part in this program."

Asked if a "Grexit" was now off the table, Schaeuble said this was up to Greece.

(Reporting by Noah Barkin; editing by Erik Kirschbaum)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Change in Nonfarm Payrolls (Sep) 29K vs 90K Expected, Unemployment Rate 4.2%
• Blackstone-backed AirTrunk to invest $1 billion in Japan data centre campus
• India raises policy rate by 25 bps in first hike in nearly four years