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The mass-circulation daily Bild, never a fan of bailing out Athens, asked in a headline Wednesday: "Will this never stop? Yet more billions for Greece." "I say that a haircut hasn't been avoided
-- it has been delayed until a time after the parliamentary election," said Frank-Walter Steinmeier, a leader of the main opposition Social Democrats. He says Merkel's government was concealing the truth for fear of being punished at the polls. Other German lawmakers agreed. "One must get the impression that the German voting schedule was more important here than the basics of math," said Priska Hinz of the opposition Greens party. "It remains unclear how Greece can return to financial markets and how that is to be financed." In rejecting of a debt write-off, the government "shies away from telling its people the truth and clearly say that keeping Greece in the eurozone does not only make sense but will also have a cost," she added. Still, Germany's opposition is expected to join the government in approving the Tuesday deal to make sure Greece doesn't go bankrupt and abandon the euro. Parliament is expected to vote on Friday. For his part, Schaeuble rejected the claims that Germany's response to the Greek crisis was being driven by the election calendar. Instead, he defended the Tuesday deal, saying it leaves no doubt that Greece must first implement austerity measures and structural reforms for the bailout to work. But Schaeuble acknowledged that the new measures for Greece not only consist of loans but might cost Germany up to
euro730 million ($950 million) next year alone. Ulrich Kater, the chief economist of Germany's DekaBank, said it was understandable that the German government didn't want to make far-reaching decisions ahead of an election. "That shows how difficult it is to manage the eurozone, with its 17 nations where there's always an election looming somewhere," he said.
[Associated
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