Berlin declines comment on possible other uses for unused loans to Greece

A spokesman for the German Finance Ministry declined to comment on Monday on possible alternative uses for unused credits for Greece after the eurozone bailout fund’s head suggested left-over credit could be allocated to other purposes.

He said Greece’s lenders would provide an update on the country’s situation at a meeting on December 4, adding: “I don’t want to pre-empt the next meeting of the Eurogroup.”

The head of the eurozone’s European Stability Mechanism (ESM) bailout fund told Handelsblatt’s Monday edition that Greece was making good progress with its reform drive. He said unused funds could be used to repay loans to other creditors. [Reuters]