UPDATE 1-Germany eyes quick approval of Greek aid

* Finance minister wants aid in place by Greek debt deadline

* ECB, IMF chiefs to brief MPs on Wednesday in Berlin

BERLIN, April 26 (BestGrowthStock) – Germany could push a law on
Greek aid through parliament on May 7, allowing it to offer its
debt-laden euro zone partner financial support before a May 19
debt deadline, German Finance Minister Wolfgang Schaeuble said.

Speaking to reporters on Monday after meeting leaders of the
German parties in parliament, Schaeuble said a failure by Greece
to refinance an 8.5 billion euro bond on May 19 would have
“unforseeable consequences”.

“I reported Greece’s needs to the parliamentary leaders and
requested that we arrange the parliamentary debate and decision
process so that we are in a position — like other countries —
to make the necessary loans available to Greece before May 19,
if needed,” Schaeuble said.

His comments underscored the sense of urgency surrounding a
Greek rescue as markets continued to punish Greek debt due to
uncertainties over the implementation of a planned bailout and
fears it may not be enough to avert a default.

In an interview with Bild newspaper on Sunday, Schaeuble had
talked tough with Greece, warning the country that painful new
austerity measures were needed before Berlin could commit to
freeing up its portion of a 30 billion euro EU aid package.

But on Monday he struck a different tone, stressing that
Berlin stood ready to defend the stability of the euro and
wanted talks between Greece, the EU and the International
Monetary Fund (IMF) — which is due to provide an additional 15
billion euros — concluded by the weekend.

“This is about defending the stability of the common
currency,” Schaeuble said.

He said IMF Managing Director Dominique Strauss-Kahn would
be in Berlin on Wednesday and available for talks with
parliamentarians, many of which are sceptical about providing
aid to Greece.

“Mr Trichet, the president of the European Central Bank,
will also come to Berlin on Wednesday at my request for a talks
with the leaders of the parliamentary parties,” he said.

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(Reporting by Paul Carrel, writing by Noah Barkin; Editing
by Toby Chopra)

UPDATE 1-Germany eyes quick approval of Greek aid