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Merkel: No Haircut

"It is in the interests of Germany to aid Greece, so that the whole of the Eurozone does not destabilize," noted chancellor Angela Merkel in an interview published in the newspaper "Magdeburger Volksstimme", adding that aid is given in return for reforms and austerity.

The German chancellor, also reiterated that she "did not see" a new "haircut" of Greek debt, and that the prospect of a new aid package for Greece will be examined in 2014.

"The first successes of this policy are apparent. Some things have faring better than expected, others do not change very quickly. Therefore, we must maintain the pressure so that agreed-upon reforms will be applied," she noted, and insisted that the aid offered by Germany "is grounded, from the very beginning, on the principle that solidarity exists only with the responsibility of the country itself," and that any offerings are given in exchange for offerings in return.

"Any country that is especially hit by the crisis may get aid, only if it follows the difficult path of reform and austerity," was the chancellor's bottom line.

Asked whether she sees any truth to predictions that the gap between Greece and Germany will continue to widen over the next twenty years, she replied that she would rather base her opinions on the Troika reports, adding that the agreed upon schedule foresees a new assessment in 2014, than on predictions that have proven false many times in the past.

Ms Merkel opined that Germany is exiting the crisis much stronger than it was before and estimated that many countries are envious and are waiting for the largest European economic power to have a greater input in economic development and the stabilization of the euro.