German Vice Chancellor Sigmar Gabriel said on Tuesday a debt haircut for Greece would not accomplish anything if Athens simply piled on more debts immediately afterwards, adding that Germany and Europe must not be blackmailed by Athens. Gabriel, who is also German Economy Minister, added that there was a possibility for an agreement with Greece now that Athens had put forward new proposals. "This is not about what to do with the existing debt, but rather what is at stake is that there are further debts," he added.
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