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German FinMin Schaeuble: Time Running Out for Greece


German Finance Minister Wolfgang Schaeuble proceeded to yet another foreboding estimation for the Greek program’s future. Addressing a news conference held in Berlin about the German government’s spending plans he stated that the time for the country which is trying to renegotiate its bailout terms, is running out. According to the Reuters, the Eurozone’s hardliner group leader had repeatedly said it is not his intention to sign a third bailout package for Greece’s troubled economy.

“We have the impression, and everyone who is dealing with the question shares the impression, that time is running out for Greece. They obviously have certain problems,” he is quoted as saying in Reuters. Moreover, the German Finance Minister rejected a Greek debt restructuring, saying that the attention should now be drawn on how the country can make its economy more competitive. “A debt restructuring is not the issue but rather how Greece can get back on track to become competitive and regain access to financial markets. Whoever is talking about a debt restructuring shows they don’t realize what the problems are,” Mr. Schaeuble said.

Asked to comment on the increased tension between Athens and Berlin, he characteristically said that he can not recall “any impolite statement from me towards Greek politicians,” while concluding that he had always behaved correctly towards his Greek counterpart Yanis Varoufakis.

It should be noted that last week the ambassador of the Greek Republic in Berlin, following an order of the Greek Foreign ministry, made a demarche to the German Foreign ministry in order to express Greece’s discontent over the German Finance Minister’s derogatory statements toward Finance Mr. Varoufakis.

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