Tags: EU | Germany | Greece

Germany: Aid to Athens Only After Austerity Talks

Monday, 26 Apr 2010 08:02 AM

German Finance Minister Wolfgang Schaeuble says parliament won't address Greece's aid request until Athens finishes talks with the European Union and the International Monetary Fund on austerity measures.

Schaeuble told reporters Monday parliament won't take any formal action before those talks are finalized.

He says Athens must proceed speedily and wrap up negotiations by the end of the week.

Greece said Friday it would ask for a joint eurozone-IMF financial rescue package worth some $50 billion — a move that has the German public concerned their tax money will be used to bail out another country.

Germany would be the biggest single contributor of loans, providing some 8.37 billion euros ($11.2 billion) and the measure needs parliamentary approval.

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