Schäuble: or Greece makes the reforms, or goes out of the euro – Observer

The German Finance minister insists that Greece must undertake structural reforms if it wishes to remain in the euro zone. Wolfgang Schäuble shows also against a relief of the Greek public debt, which this Monday will be discussed at a Eurogroup meeting in Brussels.

In an interview with the German newspaper Bild, Schäuble claims that "Athens must implement the necessary reforms" and that this is a step inevitable. "If Greece wants to stay in the euro, there is no alternative," he added.

At the meeting of the Eurogroup will be discussed and some measures of debt relief of Greece, which in turn must involve measures of liberalisation of the labour market. The government of Alexis Tsipras has been engaged in the renegotiation of deadlines and the demands of the creditors in order to ensure a return to the international markets at the end of 2017 or in early 2018.

The Greek public debt round currently 330 billion euros. In the last year, since the referendum that rejected the austerity measures proposed by the creditors and the adoption of a new adjustment program, the government rose taxes and cut expenses. But this may not be enough and further cuts are being considered by the International Monetary Fund. The minister of Finance Greek, Euclid Tsakalotos, go away from this possibility, claiming that can not be taken more austerity measures.