Sperrkonto

A blocked or frozen account. Before the troika’s report, Finance Minister Wolfgang Schäuble (CDU) suggested that rather than wait for the troika’s results Germany make its next tranche payment of aid to Greece anyway, putting it in a frozen account that will automatically pay off certain obligations but not be completely available, somehow. In its 17 Oct 2012 article, Spiegel-Online indicated that the French government too was getting tired of having to deal every few months with problems from Athens. A blocked account similar to the proposed one is currently in use, but it is under the auspices of the Greek finance agency. The new blocked account would be at an institution inaccessible to the Greek government. Spiegel-Online went on to report that additional proposals included giving the Greek minister of finance more powers to strengthen his position versus the other cabinet ministers, bringing in more bureaucrats from other countries to provide development aid in Greece, having Greece issue more “T-bills” and asking or demanding forgiveness of certain debt types.

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