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Back To Square One: Germany Throws Up All Over Varoufakis Proposal, Calls Greek Plan “Half-Baked”

Kauder 2.0

Tyler Durden (Zero Hedge): 3 February, 2015 – Photo: CDU/CSU-Bundestagsfraktion

If there was any confusion how Germany would react to the latest Greek plan, even though as we explicitly stated yesterday, the “new” Greek plan is really the “old” Greek plan but repackaged semantically for appeal to German taxpayers, even as the proposal to involve Europe’s public entities in a distressed debt restructuring is a non-starter, all confusion can be now abandoned following remarks by Merkel’s ally Kauder in which he not only called the Greek debt plan “half-baked” saying he will no longer respond to new proposals from Athens “every day”, but making it clear that there will be no renegotiation of the existing bailout proposal saying “we have agreements with Greece and not with a government – and these agreements have to be adhered to.

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