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13:36 7/11/2011 - Πηγή: Olympia
A EUROZONE CHAPTER 11 (wikileaks) και το λουρι του ΓΑΠ… ολα στο κλαρι

Από τον Πόρτα – Πόρτα το λαυράκι!

Viewing cable 10BERLIN181, GERMANY RELIEVED BY EU SUMMIT OUTCOME ON GREECE

Reference IDCreatedReleasedClassificationOrigin10BERLIN1812010-02-12 19:042011-08-30 01:44CONFIDENTIALEmbassy Berlin

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RUEHTH/AMEMBASSY ATHENS PRIORITY 0015

RUEHFT/AMCONSUL FRANKFURT PRIORITY 0008

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C O N F I D E N T I A L SECTION 01 OF 03 BERLIN 000181

SIPDIS

STATE FOR EEB (NELSON, HASTINGS), EEB/IFD/OMA

(WHITTINGTON), DRL/ILCSR AND EUR/CE (SCHROEDER, HODGES)

LABOR FOR ILAB (BRUMFIELD)

TREASURY FOR SMART, ICN (NORTON), IMB AND OASIA

SIPDIS

E.O. 12958: DECL: 02/12/2020

TAGS: EAID EFIN ECON PREL EUN GM GR PGOV

SUBJECT: GERMANY RELIEVED BY EU SUMMIT OUTCOME ON GREECE

Classified By: ECONOMIC COUNSELOR INGRID KOLLIST, REASONS: 1.4 (B) AND

(D)

¶1. (C) SUMMARY:  Chancellor Angela Merkel’s government

welcomed the decision taken at the EU’s February 11 informal

summit in Brussels not to provide financial assistance, for

the moment, to cash-strapped Greece.  German officials

believe a bailout is not needed at this time, and that

extending a lifeline to Greece would have carried too many

risks.  One major fear in Germany is that “saving” Greece

would lead to other needy Eurozone members expecting the same

treatment.  Another concern is that extending an explicit

guarantee for Greece could weigh on Germany’s own good

standing in the markets, ultimately raising its borrowing

costs.  While German government officials do not totally rule

out an IMF program for Greece if push came to shove, most

consider this eventuality highly unlikely, especially in

light of the European Central Bank’s strong opposition.  In

fact, the German government, the ECB and private German

economists are downplaying the seriousness of Greece’s

predicament and its potential impact on stability of the

Euro.  They agree, however, that the crisis could have

longer-term consequences for EU institutions and how they

interact with member states that stray off course.  END

SUMMARY.

NOT IN THE MOOD

—————

¶2. (C) Prior to the February 11 EU Summit in Brussels, there

was much hair pulling in Berlin over the wisdom of

participating in some sort of Greek rescue.  No one savored

the

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