ECB’s Weidmann: ‘No more emergency loans for Greece’

27-Mar (Independent) — The head of Germany’s Bundesbank has said that he is opposed to more emergency funding for Greece, adding that debt in the Eurozone has entered the “danger zone”.

Speaking to the weekly Focus magazine Jens Weidmann said: “Until the autumn, an improvement in the economy had been discernible. But the new [Greek] government has gambled away a lot of trust.”

He added: “I am opposed to an increase in the emergency loans.”

As the head of Germany’s Central Bank, Mr Weidmann wields a strong influence on the European Central Bank’s decision-making governing council, which he also sits on.

In the text of a speech to be delivered at a conference in Frankfurt he added: “In the euro area we are already in the danger zone – at least with regard to public debt standing at 91pc and corporate debt at 105pc.”

[source]