The German Minister of Finances Wolfgang Schäuble commented on a Sunday evening television chat show that Greece has achieved significant progress in its reforms, not without problems and delays however, which will result in the need for further financial assistance.
While Mr. Schäuble praised the Greek efforts, he also stressed that “the problem has not been overcome” and noted that further measures will be necessary in order to receive additional financial assistance at the end of the current program. The German Minister explained that although reforms are taking place, Greece has not yet implemented everything the troika deems necessary.
When asked about the possibility of a new debt haircut, Mr. Schäuble outright denied such a prospect and mentioned that he is in agreement with his Greek counterpart Yannis Stournaras. The German Minister stated that the additional assistance would likely involve extending deadline dates or reducing interest rates, whilst adding that nothing has yet been decided.
