BERLIN, June 7 (Reuters) - Greece needs substantial fresh aid from the euro zone to avoid the currency bloc's first state insolvency, German Finance Minister Wolfgang Schaeuble was quoted as writing on Tuesday.
"We are facing the real risk of the first uncoordinated state insolvency within the euro zone," die Welt newspaper quoted Schaeuble as writing according to a prerelease.
The paper said Schaeuble argued for a new bailout of Greece with a "substantial" expansion of European aid and with private creditor involvement
It said it was quoting from a letter Schaeuble wrote to, amongst others, European Central Bank President Jean-Claude Trichet.
"We are facing the real risk of the first uncoordinated state insolvency within the euro zone," die Welt newspaper quoted Schaeuble as writing according to a prerelease.
The paper said Schaeuble argued for a new bailout of Greece with a "substantial" expansion of European aid and with private creditor involvement
It said it was quoting from a letter Schaeuble wrote to, amongst others, European Central Bank President Jean-Claude Trichet.
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