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German finance minister: Greece ‘needs austerity programs’

Posted By admin On May 20, 2012 @ 5:34 am In Money Watch | Comments Disabled

AFP [1]
May 20, 2012

German Finance Minister Wolfgang Schaeuble said cash-strapped Greece needed to implement EU and IMF-imposed austerity measures as European solidarity was “not a one-way street.”

“To tell the Greeks that they need not apply austerity deals to which they have agreed is to lie to them,” Schaeuble told the weekly Bild am Sonntag.

“European solidarity is not a one-way street … And then structural reforms in Greece are necessary in any case, there’s no more ‘we’ll muddle through as usual’.”

Full article here [1]

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[1] AFP: http://www.rawstory.com/rs/2012/05/19/german-finance-minister-greece-needs-austerity-programs/

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