The head of the German Central Bank (Bundesbank) Jens Weidmann told Reuters that “the ball is in the court of the Greek government” and warned that Greece’s Eurozone partners cannot simply buy it more time to calm the markets.

The prospect of a sustainable stabilization of Greece is decisive”, he added, before explaining that this will require “an improvement in competitiveness, solid state finances and better administrative structures”.

Mr. Weidmann repeated his skepticism regarding the ECB’s Quantitative Easing program, but added that it would not be constructive to constantly question the decision.