Germany: no to new Greek debt haircut

Germany's finance minister has dismissed suggestions that governments and other public creditors could agree to a so-called haircut on their Greek debt holdings.

However, Wolfgang Schaeuble said in an interview with Deutschlandfunk radio broadcast Sunday that a debt buyback program — under which Greece would get loans that would allow it to pay off debts — could be considered.

Greece is pushing for an extension of the deadline to meet the terms of its bailout program, a move expected to incur substantial extra costs.

Greece's private creditors agreed earlier this year to take a hit on their Greek debt holdings but public-sector creditors were spared.

Schaeuble said guarantees were given at the time that "that will be all — so it's a bit unrealistic now to talk about further haircuts."