Schaeuble: Greece’s Problem Is Not Debt, But Reforms

Tuesday, February 21st, 2017
Last Update: 22:39

“I understand that for political reasons, Greece cannot proceed with further reforms to pensions, but that does not mean it cannot be done later,” said German Finance Minister Wolfgang Schaeuble at Tuesday’s press conference at the Ecofin in Brussels.

In fact, according to the German Minister, further reforms are needed in both the tax system and labor, but stressed that following the agreement in yesterday’s Eurogroup “institutions can return to Greece.”

“We didn’t talk a lot about the issue of Greece yesterday at the Eurogroup, but progress was made,” he explained. “The institutions agreed on a common position,” said Schaeuble, and stressed that “in principle there was agreement between institutions and Greece for reform, but only in principle.” The German Finance Minister reiterated that this time Greece’s problem “is not the debt,” but the reforms.

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