Responding to feedback from European Commission President Jose Manuel Barroso about coordinated assist for Greece, Schaeuble told there was no joint mechanism for the EU to assist a member state.
“There is no joint instrument for EU assist,” Schaeuble mentioned in feedback released on Saturday ahead of publication. “So only within the most extreme case could bilaterally coordinated, voluntary assist come into question. But Greece has said itself it does not require this.”
EU leaders will discuss the help issue in Brussels following week after Greece said it could not deliver promised deficit cuts if its borrowing expenses remained so higher and that it may have to seek IMF assist.
Greek Prime Minister George Papandreou mentioned on Saturday the country had taken the necessary steps to tackle its fiscal crisis and would not default on its debt obligations.
Barroso on Friday urged EU member states to agree a standby help package to Greece right after Athens said it could turn to the IMF for help.He said the 16 countries that share the euro currency should be ready to create coordinated bilateral loans to Greece.
Schaeuble also said that Greece, which has debts that are nearing 120 percent of gross domestic item, has access to assist not only from your EU but additionally from your IMF.
“Greece, as a member of the IMF, has entry to help from your IMF,” he said.