BUSINESS

Schaeuble says eurozone will ‘fall apart’ if rules aren’t followed

TAGS: EU, Euro, Economy

German Finance Minister Wolfgang Schaeuble, asked about Greece’s plans to pay pensioners a Christmas bonus while it is in the midst of a bailout program, told Die Zeit paper that the eurozone would fall apart if countries did not stick to the rules.

Schaeuble, who has long taken a tough line on Greece, said the European Commission, International Monetary Fund (IMF), the European Central Bank and the European Stability Mechanism (ESM) rescue fund had been asked for their view as to whether the step conformed to its obligations.

“The initial answer is no. If we don’t stick to the rules, the eurozone will fall apart,” he told Die Zeit, adding that the construction of the currency union had to be changed.

[Reuters]

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