The fund they want Greek assets transferred to is managed by … German Finance Minister Schäuble

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‘The idea of a foreign fund in Luxemburg, with up to 50 billion euros in Greek public assets, stands at the center of a decision taken by leaders at the summit. In the event of no agreement, Greece could be offered negotiations for a “timeout” from the Eurozone, with a likely restructuring of the debt.

“Valuable Greek assets of [EUR 50 bn] shall be transferred to an existing external and independent fund like the Institution for Growth in Luxembourg, to be privatized and decrease debt.”

The Institution for Growth counts German Finance Minister Wolfgang Schäuble on its board, as anyone can see here . Its chairmanship alternates between the German Minister of Finance and the Minister for Economic Affairs.’

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