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German FinMin Tells Greek Counterpart, Greece Must Fully Implement Reforms

More was not expected, no decision either. German Finance Minister told his Greek counterpart Yiannis Stournaras the usual, good old admonition: Greece must stick to reforms implementations. The two men meet in Berlin.
 
“German Finance Minister Wolfgang Schaeuble told his Greek counterpart Yannis Stournaras at meeting on Tuesday that Athens must fully implement promised reforms in order to receive further aid from its international lenders.

“Most important is that Greece fully implement its obligations. Finance minister Schaeuble pointed this out to his colleague once again,” the German finance ministry said in a statement after the two met in Berlin, Reuters informs.

The ministry reiterated that a report from the “troika” of European Commission, European Central Bank and International Monetary Fund on Greece΄s reform progress was due in October. The decision on whether further aid be paid to Athens will be made on the basis of the report.” (Reuters via Capital.gr)

 
Greek media claimed that the meeting between Schaeuble and Stournaras was so important that no much content was leaked to the press *sigh*
Here you can read more what was on Stournaras’ agenda.

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12 comments

  1. The Minister could have saved the country some money there instead of wasting it on a pointless trip.
    Everybody knew that would be answer, Schauble is a one-word man “Nein”.

  2. well, you are recording history, and history repeats itself…:)

    • but this history repeats itself much to often, while nobody learns anything, BTW

      • That is the nature of the beast. What has anybody learned from history? When things go well we all get greedy and shaft each other whenever possible for a few cent more. When things go bad we blame the others and start wars, vigilante crimes, etc.
        If in both cases we could only learn to share, none of this would be happening. That is the lesson history is trying to teach us, we’re just not listening. So, like a good teacher, it repeats itself, over and over again. Hoping that eventually…

  3. The meeting between the Finance Ministers of Greece and Germany could serve as the first step in a series of confidence-bui1ding measures. A step by step process could: 1) Help Greece’s efforts to reduce its rampant tax evasion, 2) Facilitate an increase of Greek exports to Germany 3) Promote German investment in Greece. 4) Explore proposals which are going to give Greece more breathing space but require no additional funding. Greece could learn a lot from a country practicing what’s preaching. Namely, Germany has managed to make its public debt viable, have a AAA credit rating and lives within its means.

    • You think these were the objectives of the meeting? It’s the bailout, man!
      “Germany living within its means”? Germany has a public debt of $ 2,446 billion USD and it TOP 3rd in TOP 20 list after USA and Japan. (data 2010/2011)

      • @KTG
        As I already mentioned the meeting between the Finance Ministers of Greece and Germany is the first step in a confidence-building process. Greece will enter a period of healthy economic growth if and only if accomplishes the following goals: 1) Increases its revenues through the reduction of tax evasion, 2) Increases the value of its exports, 3) Facilitates foreign investment, 4) Privatizes public companies and organizations and 5) Puts its fiscal house in order. Germany could help Greece’s efforts to fulfill all the goals mentioned above.

        Germany’s public debt stood at 81.2% of GDP( April 2012), which is considered to be viable. It simply boils down to the cost of borrowing money. Germany by having a AAA credit rating, a growing economy and a fiscal house in order, borrows money at an interest rate of less than 1%. The Deutsche Bundesbank lends some of that money to German banks, which in turn provide low interest loans to both German households and businesses, further spurring economic growth and creating new jobs. Germany’s economic model is envied and emulated.

    • WAKE UP NICOLAS!
      Greece is being screwed, with intent, to save that fake AAA rating. As is Spain, Italy, Portugal, Ireland, Slovakia, and whoever else is considered “expendable” in order to save the arses of the German banks.
      As for Germany living within it’s means, please explain why the German banks are so desperately trying to hide a debt hole of 1 trillion €?
      You don’t get such a thing from “living within your means”…