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"There is uncertainty regarding potential future tax increases, while funding costs are rising for private and public creditors alike".
That wouldn't help Greece much, but it would stagger the pain for banks and the country's public creditors.
He also simplified customs and excise duties, bringing them into a single consolidated fund, out of which all public creditors were to be paid.
A 21 percent discount was agreed in July by public creditors in a 135 billion euro swap in the second bailout.
In part, the suicides reflect a rural culture in which excess indebtedness becomes a mark of shame, which private moneylenders and public creditors milk to try to collect.
But a German finance ministry spokesman, echoing similar statements by Schäuble, denied that a further restructuring of Greece's staggering debt – this time by public creditors – was also on the cards.
Similar(49)
And many analysts do expect that Greece will eventually need to ask its public sector creditors to renegotiate its debt.
The new Greek government is in dual-track talks with private and public sector creditors, trying to make the case that its program for reducing long-term debt is working.
(b) American public sector creditors to the US include the Federal Reserve ($1.79 trillion) and state and local governments ($703.5 billion).
The authors examine other avenues for debt reduction, like running big budget surpluses, selling off public assets, making creditors take losses on bond holdings or debt forgiveness by creditor governments.
Following three months of fruitless talks to reach a cash-for-reform deal with creditors, public finances have never been worse.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com