16:03 GMT +326 March 2017
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    Germany's Finance Minister Wolfgang Schauble

    German Finance Minister Says Greece Should Implement Reforms or Leave Eurozone

    © AFP 2017/ TOBIAS SCHWARZ
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    German Finance Minister Wolfgang Schauble urged Greece to implement reforms, which had been agreed by the European Union and Greek authorities.

    MOSCOW (Sputnik) — German Finance Minister Wolfgang Schauble urged Greece on Sunday to implement reforms, which had been agreed by the European Union and Greek authorities, if the country wanted to remain in the eurozone.

    "If Greece wants to remain in the eurozone, there is no way around it, regardless of the debt level," Schauble told German newspaper Bild am Sonntag adding that Athens must implement the necessary reforms.

    The Greek debt crisis erupted in 2010 with a number of austerity packages adopted by the parliament and several bailout payments provided by the European Commission, the European Central Bank and the International Monetary Fund. The loans, however, only resulted in increasing the country’s debt.

    Greece's international creditors signed an agreement with Athens last summer, approving a third bailout package worth about 86 billion euros ($97.3 billion) in exchange for austerity reforms, including pension cuts and tax hikes. The country's government led by Prime Minister Alexis Tsipras pushed ahead with the reforms, and the prime minister has previously stated that he expected the country's GDP to return to growth by 2017.

    In October, eurozone finance ministers unlocked a $1.2 billion installment of the bailout after the completion of the first review of Greek reforms. Another $3 billion were unlocked in late October.

    Eurozone finance ministers will meet in Brussels on Monday to discuss budgetary situation and consider debt-related measures for Greece depending on the results of the second review of the economic adjustment program for the country.

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    • avatar
      marcanhalt
      "So, you want me to take my marbles and go home, is that it?"
    • Nam
      Who's that dirty old man? Where is Angelina?
    • Anton KOMAROV
      The Germans are showing their true colours-a continuation of the old 3rd Reich by the Merkels etc whose ire at being thwarted from their plans conceived prior to the rise of the Nazis were well underway under the dubious control they exerted over the EU.Since Trump's election,these fascists have done nothing but complain and try to render the speediest implementation of their deranged plans for total control.We will have to wait to see how much they will be prevented from continuing with their agendas and by what means and methods will they try to undermine change which does not follow their diktats.
    • avatar
      goldcamshaft
      Greece should demand the cancellation of the european sanctions on Russia. How can the eu put pressure on a country for not making its commitments, when in fact, the machinery to produce the revenues for meeting these commitments, is being hijacked by the self-same eu leadership. Greece should be more emphatic on this issue. In fact, it should be the item on the agenda with priority over anything else in the land. Important issues have to come first. If one rents out a business premise to carry on a business and one has a commitment to pay the monthly rent, one has to be given free and clear way to enjoy the premises and produce the revenues in order to pay the bill. The Landlord cannot permanently install a bulldozer in front of the business premises, with threats of demolishing the business, thereby impeding customers from entering and supporting the revenues of the business. Same thing with countries.
      Secondly, Greece and allies should put pressure on Germany to take all, i repeat, all of the refugees that it beckoned to come to its territory and thereby were attracted to other countries that are the freeway to Germany. Take your refugees, Germany!
      Thirdly, is it better to be a third rated country in the eyes of the eu and be pressured for life, until eternity, or is it better to be an independent, as far as the euro is concerned, country living your standard of living and seeking new realms that are awaiting with open arms. Greece is in a good position to market its products and services in the EEU and also with other non-aligned countries. The Greeks should not be lazy about finding new markets. They have no sanctions imposed upon them, except, as I call the pressure from the eu, sanctions from the west. Iran was able to overcome all the pressures of the formidable sanctions of the eu, usa and its allies and its suck-uppers, and, above all, it has become a powerhouse in global trade, especially in non-aligned countries. Russia has used the so-called formidable sanctions from the eu, america, its allies and its suckuppers to excel in financing survival, military equipment, agriculture and technology and has become more attractive than in the past for investments in Russia by formerly unfriendly countries and corporations, who have found out, that a gun fired recklessly can only injure the shooter and his ego.
      Greece has to understand, that all, I repeat, all, of the usa-aligned countries have been stagnant since 2008, when Bush destroyed the economy of the world, only to put money into the pockets of american banks and investment companies, and are somewhat going downhill with regards to the investment climate in their respective countries, whereas the investment climate in non-aligned countries have been very attractive and these economies have moved forward at a rapid rate, Some have suffered recently from the sabotage of that evil empire. But they will survive and do better than any one country in europe. As Bush put it, europe is Old Europe, Europa Antiqua. Gone..past..fini.
      Greece has a bright future. Let the sunshine in and the vegetation will grow.
      The dark will not endure and the light will not delay. Go forth in hope!
    • Bodoin reply toAnton KOMAROV(Show commentHide comment)
      Anton KOMAROV,
      Some Germans ... not all Germans! After losing the master in Washington DC ... the European leaders are confused ... No one there who advising them. We soon will see what happen ... with the EU and the Euro.
    • avatar
      Tim - USA
      Greece lied and cooked the books to get into the EU. For that reason alone they should have been evicted long ago. In the mean time they are a welfare state of which countries like the UK don't want to support and another reason for the UK to bail out of the EU. Greece is a liability to the EU and the EU is liability to itself.
    • avatar
      michael
      sounds like an attempted threat as well, but the or option is actually the better one. :)
    • Bodoin reply toTim - USA(Show commentHide comment)
      Tim - USA,
      "Greece lied and cooked the books to get into the EU."
      Yes, they did. With help from France, Germany and other countries!!!
      Because at that time no country had followed the criteria to get the Euro! And yes, all documents you can find in the web. And one of the hidden acteurs was "Goldman-Sachs" ...
    • Zoanthropy
      The Germans and the EU would love Greece to leave the EU, then the illegal migrant crisis becomes solely a Greek problem and the EU and Germany keep Greece as their buffer zone.
      The EU regime needs to be dissolved.
    • Adrienne Adonis
      Leave the Eurozone and remove all migrants back to turkey
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