NEWS

Schaeuble: Greece needs to fulfill terms of agreement before further aid

German Finance Minister Wolfgang Schaeuble is sticking to his hard line on Greece, telling a German newspaper the onus was on the government in Athens to fulfil the conditions of its bailout program before further aid would be paid out.

“Before money can flow, Athens has to show that it is meeting the agreed conditions,” Schaeuble said in an interview in the Stuttgarter Zeitung on Wednesday. “How long Greece needs to fulfill the terms depends on Athens.”

Athens struck a deal with the eurozone in February to extend its bailout by four months, but it is running out of options to fund itself. It is due to receive the 7.2 billion euros in remaining EU/IMF bailout funds if it successfully completes the program.

Schaeuble also warned Greece’s Finance Minister Yanis Varoufakis against trying to change the terms of the agreement.

“If the Greek finance minister declares the Eurogroup’s agreement with Greece is unclear, then he is stating that against his better judgement,” Schaeuble said. [Reuters]