Greece should be given more time to reform its economy and must not be thrown out of the euro zone, said Peer Steinbrueck, the man hoping to oust Angela Merkel as Germany’s chancellor next year.
Steinbrueck, named by the main opposition Social Democrats on Friday as their candidate to challenge the conservative Merkel, told Die Welt am Sonntag newspaper that Germany should be ready to provide aid to Greece for some time to come.
“In the case of Greece, we cannot tighten the screws any further. The Greeks must stand by their commitments, but we must also give them more time,” said Steinbrueck, who served as finance minister in a coalition led by Merkel in 2005-09.
“And the chancellor must finally tell the German people the truth: Greece will not be able to borrow money on the capital markets in the coming seven or eight years. We will have to help it until then,” he added.
Steinbrueck said that the SPD’s support in parliament for a third bailout for Greece would depend on the conditions attached.
Steinbrueck ruled out a Greek exit from the euro zone.
“The political and economic reverberations would be devastating,” he said.
(source: Reuters)
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