Grexit is still possible, Schaeuble says, Iceland opts out of EU membership

Source: Dukascopy Bank SA
"Greece must implement what it pledged to do. Otherwise, there can't be any payments from the current [bailout] program."
-Wolfgang Schaeuble, German Finance Minister


German Finance Minister Wolfgang Schaeuble said that Greece's exit from the Euro bloc was still possible, but highlighted that Europe wants provide further aid to Greece. Nevertheless, Schauble stressed that the country should help itself as well as fulfil its financial obligations to international creditors. Otherwise, there will be no further payments under the current bailout program, German Finance Minister said. Schauble's view was also shared by Austria's Finance Minister Hans Joerg Schelling, who said that it was still possible that Greece could leave the Euro zone, given the difficult negotiations over further financial help for the country. Meanwhile, more than half of Germans wanted debt-stricken Greece to exit the Euro zone, while 80% thought the country was not acting in a reliable manner in its negotiations with Eurogroup. Only 14% believed the Greek government will actually implement the austerity and reform measures it has pledged to, while 82% doubt it. Meanwhile, Jeroen Dijsselbloem, who heads the Eurogroup, said that Greeks were wrong to blame Germany for their problems.  Dijsselbloem's comments came after Greece demanded Germany to pay multibillion-euro reparation over first and second world war.

Meanwhile, Iceland decided to withdraw its application for the country's membership in the European Union.


© Dukascopy Bank SA

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