Schauble: Greece will remain in Eurozone only with competitive economy

German Minister against more funds for EU coutries

German Finance Minister Wolfgang Schauble harshly criticised the Foreign Minister of Germany Sigmar Gabriel who had opined Germany should offer more funds to Greece and EU member states. Speaking to German radio “Deutschlandfunk” Mr. Schauble warned that Greece could remain in the common currency union only if its economy was competitive. “For this purpose, the country [Greece] should implement reforms, something that needs time”, he stressed. “But when time is used to not implement reforms, because they are uncomfortable, then that is the wrong way”, the German Finance Minister said. Commenting on Mr. Gabriel’s proposals that Germany could possibly offer more money to Greece and other EU countries, Mr. Schauble claimed it was the wrong way. “That is the wrong message. Europe’s problem is not primarily money. On the contrary, it [money] should be used properly”, he underlined.