• scahuble

Schauble: Greece in tough spot if it fails to uphold program terms

Greek issue causes rift in German government coalition

Greece will be in a very difficult position if it fails to implement the terms agreed upon in the fiscal adjustment plan, German Finance Minister Wolfgang Schauble said during an event organised in Saarbruecken. Meanwhile, newly appointed German Foreign Minister and former head of the social-democrats of the SPD, Sigmar Gabriel sent a letter to Mr. Schauble opposing his policy on the Greek matter and proposing a compromise. The SDP fears the Christian Democrats of the CDU, which Mr. Merkel and Schauble are members of, plan to push a Grexit. The content of the letter revealed a serious rift in the German coalition government between the two major parties the CDU and SPD.