The German Minister of Finances Wolfgang Schäuble has not ruled out the possibility of a Greek default, according to an article published by Reuters.

According to the German Finance Minister “what I know from discussions with the three institutions does not back up the optimism arising from announcements from Athens” and that “there is not yet any substance to the mere announcement that we are closer to an agreement. This is still within the realms of atmosphere”.

Furthermore, Mr. Schäuble noted that “I can understand the public speculation about political solutions; but they are not justified by anything in their substance” and revealed that the Greek case will be discussed at the G7 meeting in Dresden next week, despite not initially being on the agenda.