German FinMin insists on ‘no new negotiations’ with Greece

Speaking at the opening of a parliamentary debate on Germany’s 2013 budget in parliament on Tuesday, German Finance Minister Wolfgang Schaeuble said that there cannot be any new negotiations about the Greek budget consolidation and reform program agreed with the European Union and the International Monetary Fund.

?It is clear that all conditions from the program agreed only at the start of the year must be met,? Schaeuble was quoted as saying by Market News International.

?If this would not be the case then confidence would be again destroyed and contagion risks for the whole eurozone would be again increased,? the minister argued.

Schaueble is also quoted by the Wall Street Journal as saying that Portugal and Greece have made «remarkable progress» but insisted that Athens will not be given more time to implement its fiscal and economic reforms to cut its deficit.

?There cannot be new negotiations on that point,? he stressed.

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