Reuters: US Dollar Report: Berlin plays down flexibility clause in Greek deal

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Berlin plays down flexibility clause in Greek deal Aug 24th 2012, 09:06 BERLIN | Fri Aug 24, 2012 5:06am EDT BERLIN Aug 24 (Reuters) - Germany's finance ministry said on Friday a clause in the Greek bailout deal allowing more time for reform targets in the case of a worse-than-expected recession was not legally binding, further dampening Athens' hopes of getting some leeway. Finance ministry spokesman Martin Kotthaus read out the clause saying talks with the European Union, European Central Bank and International Monetary Fund about Greece's fiscal targets could be reopened in such a case. But he then added that the passage "has no legally binding status". He did not elaborate. Kotthaus was talking shortly before a visit by Greek Prime Minister Antonis Samaras to Berlin, where Samaras was expected to ask Chancellor Angela Merkel to support giving his country extra time to meet the conditions of its bailout deal.

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