In unusually blunt remarks, German finance minister Wolfgang Schaeuble said: “The most important task facing new prime minister [Antonis] Samaras is to enact the programme agreed upon quickly and without further delay instead of asking how much more others can do for Greece.”
His comments highlight Germany’s growing impatience with the eurozone’s problem nations in what is shaping up to be another significant week for the single currency bloc.
A formal request from Spain for up to €100bn (£80bn) of emergency funding for its banks is expected on Monday, while the week ends with a two-day summit in Brussels where German chancellor Angela Merkel is again expected to dig in her heels over the eurobonds championed by France’s new president, Francois Hollande. Such bonds would mutualise the debts of the 17 eurozone nations, effectively leaving Germany on the hook for more spendthrift members.
Greece’s new three-party coalition government took charge on Thursday, vowing to renegotiate the terms of its latest €130bn bail-out. It wants a two-year extension to the 2014 deadline for it to cut its budget deficit to 2.1pc of GDP from 9.3pc in 2011. Such delay would, however, require up to €20bn more foreign funding.
Mr Schaeuble added: “Greece hasn’t tried enough so far, that has to be said quite clearly… no one on Earth who has followed this issue would think that Greece has fulfilled what it has promised.”
The Telegraph
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