Schaeuble Proposes A Trade: US Takes Greece, Germany Takes Puerto Rico

Incorrigible German Finance Minister Wolfgang Schaeuble — who, as a reminder, is enjoying all-time high approval ratings at home thanks to his hardline stance towards Greece — spoke on Thursday at an event hosted by the Bundesbank in Frankfurt and had some interesting things to say about the Greeks and their prospects for remaining in the euro and obtaining the IMF-supported debt relief. Here are some highlights.

Via Bloomberg: 

  • SCHAEUBLE: LEEWAY FOR GREEK DEBT REPROFILING VERY SMALL
  • SCHAEUBLE SAYS IMF TOLD HIM NOT TO BE TOO LAX TOWARD GREECE

"We have to consider the acute problem of Greece at the moment. The banks are closed, capital controls have been introduced, nobody knows when the bank holiday will end, nobody knows when this will end”

And from MNI:

  • SCHAEUBLE: OFFERED LEW TO TAKE PUERTO RICO IF US TAKES GREECE
  • SCHAEUBLE: GREEK FINMIN SAID DEBT RELIEF WON'T SOLVE PROBLEMS

Granted, this is a joke, but still: the simmering conflict between the US and Germany on how to "resolve" the Greek crisis has just been laid out bare for all to see.

Its resolution will be quite entertaining. As for our question of the day, it is as follows: what would be the best name for the newest US state: Puerto Greeko or is it Puerto Grico?