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German ForeignMinister Westerwelle: No Renegotiation of Greece’s Austerity Cuts

German Foreign Minister Guido Westerwelle has ruled out any renegotiation of Greece’s budget austerity program. Even though Greek coalition government partners ND, PASOK and Democratic Left are readying to ask a two year extension for meet deficit targets.

“I see desires emerging in Greece to renegotiate and substantially question the country’s obligations to carry out reforms. I have to say simply, that will not do. It is a Rubicon that we are not going to cross,” Westerwelle told the “Hamburger Abendblatt” in an interview published on Saturday.

He called on Athens to clearly demonstrate that it wanted to remain in the eurozone.

“Greece must not just say that it wants to stay in the eurozone, but must also implement a clear policy of reforms and keep its commitments,” he added.

Westerwelle is Merkel’s coalition government parnter form neo-liberal FDP.

In a similar story AFP writes:

On Wednesday, Greece’s Finance Minister Yannis Stournaras admitted the crisis-hit country still had “some way to go” to finalise 11.5 billion euros ($A13.63 billion) in spending cuts demanded by its EU-IMF creditors in return for fresh loans.

Auditors from the European Union, International Monetary Fund and the European Central Bank – the so-called troika of Greek creditors – are expected in Athens next week for another in-depth inspection of the new government’s economic program.

The troika’s report will determine whether Greece will receive fresh loans of 31.5 billion euros by September that are due under its debt rescue program. (AFP)

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  1. First Westerwelle. Then Schäuble. And now Der Spiegel
    I think: ‘It’ has (finally) begun… 🙁

  2. keeptalkinggreece

    I don’t think so – it’s just pressure to the Greek gov’t.

  3. and……sadly they will roll over and submit…..hold onto your purse folk thieves are waiting in the wing to take your last cent

  4. Exit is the best solution for Greece and more country’s

    Euro Exit Plan: Ditching austerity for prosperity

  5. keeptalkinggreece

    yes they will with the new law that citizens will have to declare all their assets

  6. keeptalkinggreece

    of course. Greeks would agree to Grexit if they can send their politicians away together with the euro – in one envelope, no return.

  7. Together with the ECB decission it amount to more then a “warning”. It seems to me we are in the “end-game”.

  8. keeptalkinggreece

    or again a market manipulation game.

  9. In a month’s time he’ll be telling you who to vote for with the promise to “save Greece” if you vote correctly…

  10. keeptalkinggreece

    tired of being saved again and again – and getting much poorer at the same time.

  11. Don’t believe that any-more.
    Too many people, especially the well informed, around me are just plain sick and tired of the Greek nomenklatura. Spaniards and Italians are begging to just dump Greece, because it is dragging them into the abyss while they are doing all they can to avert disaster. And they see the Greek nomenklatura just doing nothing to save Greece.
    I think it is high time to just stop talking about things like market manipulation or other blame games and just start shouting as hard as we can the truth. That is the main problem is inside Greece and DO something about that.
    But I know that it is way too easy for most to still go the blame-route. So let’s go on with blaming everybody but ourselves. 🙁

  12. keeptalkinggreece

    Antonis, you have lived here long enough to have seen the pressure everytime before a bailout tranche was given. I do not blame only the Troika or only the Greek government. meanwhile I think it’s a game they both play on the backs of honest people here.
    Spaniards and Italians? LOL no idea about the nomenclatura in these countries? Ask the POrtuguese as well…
    BTW you started and ended the day with a bad mood comment, although you had a fulfilled day. hm…