Greece’s primary surplus was higher than expected, according to Germany’s Finance Minister Wolfgang Schaeuble, who acknowledged the progress made by Greece and Spain.

“The development with the primary surplus was better than expected,” noted Schaeuble in his address to Europaforum organized by the West German Radio (WDR) at the German Foreign Ministry.

At a query on the surplus calculation method, he underlined that a programme is underway and that the primary surplus was the first step.

“Further efforts should be made,” said the German Finance Minister and estimated that Europe is on the right track, stressing, though, that the danger is not over yet.