Germany, France, Netherlands to rescue Greece from debt crisis

Germany, France and the Netherlands plan to buy Greek bonds to help Athens cope with a severe debt crisis, a German member of the European Parliament told Greek television on Saturday.

“The plan is that Germany, France and the Netherlands will buy Greek bonds,” Jorgo Chatzimarkakis told Mega TV in an interview aired on Saturday evening.

It was unclear how Chatzimarkakis, who is not a high-profile politician in Germany, knew of the plan.

Earlier, a Greek newspaper reported that Germany and France planned to help Greece with its debt problems by purchasing bonds or providing guarantees via state banks, but a German official denied that report.

Chatzimarkakis is a member of the pro-business Free Democrats, which are part of the ruling coalition in Germany and have taken a hard line against helping Greece.

“Germany is planning to buy immediately 5-7 billion euros (of bonds),” he said, adding that Germany’s state-owned development bank KfW and France’s state-owned bank Caisse des Depots were part of the deal and would buy Greek bonds.

The report in Greek newspaper Ta Nea, which cited unnamed banking and official sources, also said the two banks would play a role in the aid plan. Reuters