- Title: Greece needs fiscal room for investments - Germany's Gabriel
- Date: 22nd May 2017
- Summary: BERLIN, GERMANY (MAY 22, 2017) (REUTERS) VARIOUS EXTERIOR OF GERMAN FOREIGN MINISTRY GERMAN FOREIGN MINISTER SIGMAR GABRIEL AND HIS FRENCH COUNTERPART JEAN-YVES LE DRIAN ARRIVING FOR NEWS CONFERENCE CAMERAS (SOUNDBITE) (German) GERMAN FOREIGN MINISTER, SIGMAR GABRIEL, SAYING: "In 2016 the Eurogroup promised this [the prospect of debt relief] to Greece for the time past 2018 on the basis that the Greeks have achieved incredible things since then." REPORTERS TAKING NOTES CLOSE OF REPORTER WRITING ON LAPTOP (SOUNDBITE) (German) GERMAN FOREIGN MINISTER, SIGMAR GABRIEL, SAYING: "The Greeks were always told if you do this then it will become necessary to give you debt relief. This has been agreed on in 2016. And I think it is now time to make this concrete." LE DRIAN LISTENING LE DRIAN AND GABRIEL DURING NEWS CONFERENCE (SOUNDBITE) (German) GERMAN FOREIGN MINISTER, SIGMAR GABRIEL, SAYING: "The Greeks have implemented their measures. Now it's time for the IMF (International Monetary Fund) and the Eurogroup to agree with the European Commission about the growth expectations, the level of surpluses Greece is able to generate in normal times and how much will be the debt servicing from this. This debt servicing must not be so big that nothing remains for growth, creating jobs, for research, for development, for education, for infrastructure." REPORTERS LISTENING VARIOUS OF LE DRIAN AND GABRIEL SHAKING HANDS AND LEAVING
- Embargoed: 5th June 2017 15:54
- Keywords: investments debts Greece euro zone Gabriel
- Location: BERLIN, GERMANY
- City: BERLIN, GERMANY
- Country: Germany
- Topics: Government/Politics
- Reuters ID: LVA0016HX75FR
- Aspect Ratio: 16:9
- Story Text: German Foreign Minister Sigmar Gabriel on Monday (May 22) urged eurozone finance ministers and the International Monetary Fund to give Greece enough fiscal room to make growth-oriented investments in education, infrastructure and research and development.
Speaking alongside visiting French Foreign Minister Jean-Yves Le Drian, Gabriel said the Eurogroup must grant Greece debt relief in exchange for reforms demanded by its international lenders.
Gabriel, a Social Democrat, has criticized conservative Finance Minister Wolfgang Schaeuble's handling of the Greek debt crisis, namely his insistence that giving Greece debt relief could encourage it to forfeit necessary reforms.
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