LUXEMBOURG (MNI) – A favorable assessment of Greece’s progress on
fiscal and structural reforms by the ECB, the IMF and the European
Commission would smooth the way for the release of further EU aid,
German Finance Minister Wolfgang Schaeuble said Monday.
Asked by reporters ahead of the Eurogroup meeting here about the
consequences of a negative Troika report, Schaeuble said his Eurozone
colleagues had agreed not to speculate on the outcome. “We’re waiting
for the report,” he explained.
As the Troika’s report on Portugal’s progress was positive, the
ministers should approve the release of the next bailout tranche today
or tomorrow, Schaeuble said.
Regarding Spain, Schaeuble highlighted promising macroeconomic
data, like the trade surplus and unit labor cost trends. “Spain is doing
everything that is necessary in its fiscal policy and structural
reforms,” he said.
“Spain needs no aid program – that’s what Spain’s government says
over and over,” he said. “I always listen carefully to what Spain’s
government itself is saying.”
Ahead of Tuesday’s discussion on progress toward unified banking
supervision in Europe, Schaeuble conceded that the situation was
“complicated” and “more difficult to implement” than initially imagined.
[TOPICS: M$G$$$,M$X$$$,MGX$$$,M$$CR$,M$S$$$,M$Y$$$,M$P$$$]
