Schäuble insists that the Greek public debt is not a main issue

Germany’s Minister of Finance Wolfgang Schäuble urged Greek authorities to carry on with the implementation of reforms, following the recent progress.

In an interview for German newspaper Genaral Anzeiger, the Finance Minister commented that the recent developments in Europe are positive, such as growth in Spain and Italy.

The German Minister however repeated his position that Greece’s public debt is not a main problem and that any decisions on it will be taken after the third bailout program concludes in 2018. Instead, the German Minister argued, the main problem is inefficient management and lack of competition.

Regarding the IMF’s refusal to participate in the Greek program, Schäuble estimated it was a “misunderstanding” and that there is no intention to clash with the Fund.

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