BERLIN (MNI) – Greece won’t get any further financial aid from its
Eurozone peers if it does not adhere to the agreed fiscal consolidation
and reform measures, German Foreign Minister Guido Westerwelle said
Friday in a government declaration in the German parliament.
“If Greece leaves the authoritative reform path then a pay-out of
further aid tranches won’t be possible anymore,” Westerwelle stressed.
“We want to keep the Eurozone together,” the minister vowed. “The
future of Greece in the Eurozone is now in the hands of Greece,” he
declared.
Westerwelle reaffirmed the German government’s mantra that growth
in the Eurozone must not be kick-started through higher borrowing. It
can only be achieved by undertaking structural reforms. “One cannot buy
growth through debt,” he asserted.
“We want to get out of debt policies…in Europe, because printing
money cannot be a solution. It leads to depreciation of money, it leads
to inflation,” Westerwelle said.
The minister reaffirmed that the German government aims to work
closely with the new French president Francois Hollande and his
government but will not give in to Holland’s demand to renegotiate the
EU fiscal compact.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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