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GreekReporter.comGreek NewsEconomyGerman Fin Min: Greek Bailout Success Uncertain in Long Term

German Fin Min: Greek Bailout Success Uncertain in Long Term

SchaeubleGerman Finance Minister Wolfgang Schaeuble said he is doubtful whether Greece’s bailout will succeed in the long term, yet he cited progress on the present task of concluding the program review.
“We can make it, I’m not that pessimistic, we’ve made progress,” Schaeuble said during a panel discussion in Berlin on Wednesday, according to a Bloomberg report.
The Greek government’s willingness to accept European Union help in tackling the refugee influx is reason for optimism that the country will take more advice in other areas as well, Schaeuble said.
Asked whether Greece’s third bailout since 2010 will succeed, Schaeuble said: “I’m not sure it will work.” He reiterated his argument that it’s difficult for the country to recover economically since, as a member of the euro zone, it lacks the option of currency devaluation.

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