Greece Can be Competitive Once Makes Reforms: Schaeuble
Greece can have a competitive economy once it makes reforms agreed with its euro zone creditors, German Finance Minister Wolfgang Schaeuble said on Monday, REUTERS reports.
Asked if it was realistic to demand that Greece should have a primary budget surplus for a decade beyond 2018 as some creditors have proposed, Schaeuble replied:
"I think for Greece it is realistic that they should carry out reforms to make themselves competitive. It's about that, nothing more.... For Greece it is a long, hard road."
- Greece Emerges from Eurozone Bailout Programme The economy has grown slowly in recent years and is still 25% smaller than when the crisis began.
- Greek Unemployment Rises to 23.4 Percent in August, Eurozone Highest Greece's unemployment rate has come down from record highs but remains more than double the euro zone's average of 10 percent in August.
- Eurogroup to Disburse 10.3 bln Euros to Greece The Eurogroup also recalled the medium-term primary surplus target for Greece at 3.5% of GDP as of 2018 and underlined the "importance of a fiscal trajectory consistent with the fiscal commitments under...
- 48-Hour Strike Began in Greece Public transport workers joined the strike. Today and on Saturday in the Greek capital metros, trolley buses and trams will not work.
- Greece to Launch a New Round of Bailout Talks Following pressure from bailout creditors, the government has committed to overhaul the country’s pension system, which, it admits, is otherwise moribund.
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