Schaeuble praises Greece, Portugal, Spain, for making ‘significant’ progress

German Finance Minister Wolfgang Schaeuble praised Greece, Portugal and Spain for making “significant” progress in reforming their economies and resolving their deficit and debt woes.

Speaking at a Konrad Adenauer Foundation event in Berlin on Monday, Schaeuble also said that European countries should be under no illusion that they can shift responsibility for problems in their national banking sectors to the bloc’s rescue mechanism. [Reuters]