OK, so it wasn’t that nice. But “not a hopeless case” is better than “bottomless pit” and some of the other things Wolfgang Schäuble and his underlings have called the cradle of democracy in recent years. Of course, Angela Merkel’s moneyman thinks the previous government—you know, the one that got all of 35% of the vote in January’s election—was a little easier to deal with than the current bomb-throwers, however compliant they’ve been so far.
Until the end of last year, Greece was developing better than expected under the bailout programs, Wolfgang Schäuble said, but problems have arisen since then.
“The situation in Greece is very specific,” Mr. Schäuble said at an event here.
Indeed, and has a very specific solution: Do what Germany says, or else.
“Greece must implement what it pledged to do. Otherwise, there can’t be any payments from the current [bailout] program,” he said in the interview….
“That is a bit the problem, but it can’t be solved by making others scapegoats. Instead one must recognize what is necessary” to do, he said.
German Finance Minister Says Greece Isn’t A Hopeless Case [WSJ Real Time Economics blog]