German Finance Minister Wolfgang Schaeuble said in an interview with Deutsche Welle published on Saturday that there was some room to extend maturities on Greek debt but that this room was limited. "Outright debt forgiveness doesn't work at all under European law," Schaeuble said. This room is not very big." The International Monetary Fund (IMF) has called for "significant debt relief" for Greece, describing this as a condition for its participation in a third bailout for Greece that was approved by euro zone finance ministers late on Friday.
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