Germany casts doubt on cash help for Greece

Laura Miller
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German Chancellor Angela Merkel has pledged to "stand helpfully by Greece's side" but her economy minister said Germany would not offer a cash bailout.

Mrs Merkel was speaking ahead of a meeting in Berlin with Greek Prime Minister George Papandreou later on today, the BBC reports. But her economy minister Rainer Bruederle said earlier his government "does not intend to give a cent" to Greece in financial aid. On Thursday, the Greek government went to the financial markets to borrow money and saw its €5bn ($6.8bn; £4.5bn) bond issue oversubscribed. UK investors bought a fifth (20%) of the 10-year bonds, while Greek investors purchased 23% of the total issuance, and Germany took 14%. Mrs Merkel welcomed the uptake. "The placement...

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