Double "no" from Merkel and Schäuble to a new "haircut"

German Chancellor Angela Merkel and German Finance Minister Wolfgang Schäuble appeared firmly opposed to the possibility of a new haircut to the Greek debt with statements in German newspapers today.

Asked by a journalist of the newspaper "Southwest Press" for this eventuality, Merkel replied “I do not think so,” repeating the position she took last week.

Speaking to the newspaper Bild, Schäuble described the haircut of the Greek debt as a "unique event", adding that the road to recovery for countries with low competitiveness passes only through inevitable reforms and structural changes.

To explain the reasons for his refusal to a new haircut he explains that in this case, "no investor would have wanted to buy European state bonds."

However, Schäuble appeared open to considering new aid package, noting that "the Eurozone Finance Ministers have agreed since last year to consider new support when the program is fully implemented at the end of 2014."