BUSINESS

Schaeuble says he feels more hopeful about Greek economy

TAGS: Economy, Euro

German Finance Minister Wolfgang Schaeuble said on Monday that he was now feeling more hopeful about Greece's economic development than before.

Last week Greece secured a deal with its foreign lenders that will unlock bailout loans and agreed on steps that will help relieve its debt mountain. 

Schaeuble also said  that the European Central Bank's responsibility for the entire eurozone meant the institution was not implementing the best monetary policy for Germany.

He said it was necessary to recognise that "the ECB has to pursue a policy in a currency union for all 19 member states that is not the optimal monetary policy for Germany".

Schaeuble also said that all institutions, including the ECB, needed to be open to being debated publicly.

In recent weeks the ECB has been subject to criticism from some German politicians for its ultra-low interest rates.

[Reuters]

Online