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Germany ‘has to do as much as we can’
But, businessman says, nations need more than cash to get back on track
The biggest challenge, he said, remains the Greek economy, which he said is the only one of the heavily indebted countries with no short-term hope of recovery.
“I think, first of all, we clearly have to address Greece,” Mr. Keitel said. “Greece is the only country that is and in the near future will not be able to get out of this crisis. So we are clearly committed as Europeans to finding a way for Greece.”
He said this may require “bringing Greece into intensive care.”
Germany and such other eurozone nations as the Netherlands and Finland have warned that while there can be negotiating on the details of bailout packages, Greece must live up to the austerity promises in them and there will be no eurozone-wide assumption of each others’ sovereign debt.
“We cannot kick them out,” he said. “Legally it’s impossible, and they will never leave the euro. So let’s find a way to help Greece.”
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About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at email@example.com.
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