Today's Coming Crisis Movie

Thursday, June 6, 2013

Merkel urged to come clean on Greek debt relief

Germany's opposition Social Democrats demanded that Chancellor Angela Merkel come clean about the risk of losses on government loans to Greece before a looming election, after the IMF said Athens may require additional debt relief as early as next year.

Carsten Schneider, budget expert for the SPD in parliament, accused Merkel and her Finance Minister Wolfgang Schaeuble of being dishonest with voters by trying to push back a discussion of Germany's exposure to Greece until after the September 22 vote.

His comments on Thursday came a day after IMF economist Paul Thomsen said European governments had committed to providing more debt relief if Greece's primary budget balance fell short of target in 2013 or 2014.