German finance minister Schaeuble repeats warning that Greece will need fresh rescue

German finance minister Wolfgang Schaeuble has repeated his warning that the Greek economy will need another aid program, and that this won't involve a further haircut.

Previously Schaeuble said that the initial haircut was "unique" and there is speculation that this third bailout will be much smaller than those before. The minister said that it is possible that the new aid package would be much lower than those of the past.

Schaeuble said that the European Stability Mechanism is "far from exhausted", according to newspaper Handelsblatt. He also said that it would be a good for the European Central Bank to raise interest rates as the economy improves.