While Greek politicians attempt to cobble together a new government, Germany’s Finance Minister said the eurozone would survive if Greece were to leave the single currency.
Wolfang Schauble’s comments follow the immense swing away – in Greece’s election on Sunday -from parties that backed deep austerity measures that came attached to EU-IMF bailouts.
“Europe will not sink so easily,” Schauble told the Rheinische Post. “We want Greece in the euro area. But Athens has to want it too – and has to fulfil its duties.”
Schauble said the contagion risk for other euro countries from a possible Greek exit has been reduced over the past two years.
Foreign Minister Guido Westerwelle has backed up Schauble’s comments by telling Germany’s Bundestag that the granting of new aid to Greece would depend on Athens respecting its obligations.
He called on Greece to implement the reforms it has agreed with international finance officials.