JAPAN: German Finance Minister Wolfgang Schaeuble says Greece will have to solve its own problems

Record ID: 466657

  • Title: JAPAN: German Finance Minister Wolfgang Schaeuble says Greece will have to solve its own problems
  • Date: 12th October 2012
  • Summary: TOKYO, JAPAN (OCTOBER 11, 2012) (REUTERS) EXTERIOR OF BUILDING WITH SIGN IN ENGLISH READING: "NIPPON PRESS CENTER" NEWS CONFERENCE ROOM (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE SAYING: "The majority of people in Greece or Italy know that the problems in Greece were not caused by Germany and not by Brussels or the European Union either but by Greece. And they need to be solved in Greece." SIGN IN JAPANESE SAYING: "JAPAN PRESS CLUB" (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE SAYING: "I prefer that each country solves its own problems and to keep the promises made previously. If those promises were not fulfilled, they must accept criticism." MEDIA (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE SAYING: "You don't climb a high mountain by going downhill first. It only increases the distance you have to climb." NEWS CONFERENCE ROOM REPORTER MORE OF GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE LEAVING
  • Embargoed: 27th October 2012 13:00
  • Keywords:
  • Location: Andorra
  • Country: Andorra
  • Topics: International Relations,Economic News,Politics
  • Reuters ID: LVA9ZLSUPV7GIW98B1OQSAP4TQHY
  • Story Text: German Finance Minister Wolfgang Schaeuble stressed that individual countries, especially Greece, would have to solve their own problems and not rely on German taxpayer money.
    "The majority of people in Greece or Italy know that the problems in Greece were not caused by Germany and not by Brussels or the European Union either but by Greece. And they need to be solved in Greece," Schaeuble said Greece is locked in talks with the European Union, European Central Bank and International Monetary Fund, known as the troika, to secure the next tranche of a 130-billion-euro loan package, its second bailout since 2010.
    "I prefer that each country solves its own problems and to keep the promises made previously. If those promises were not fulfilled, they must accept criticism," Schaeuble said.
    The IMF has expressed frustration with Europe's piecemeal response to its debt crisis and warned that a recent respite in borrowing costs for debt-laden countries such as Spain may prove short-lived unless euro zone leaders come up with a comprehensive and credible plan.
    "You don't climb a high mountain by going downhill first. It only increases the distance you have to climb," said Schaeuble.
    Without the next 31.5-billion-euro payment, Greece says it will run out of money by the end of November.
  • Copyright Holder: REUTERS
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