• Germany's news in English

Schäuble insists: Greece will answer to Troika

AFP · 10 Mar 2015, 17:53

Published: 10 Mar 2015 17:53 GMT+01:00

Facebook Twitter Google+ reddit

The influential Schäuble was speaking in response to a claim by Greek Finance Minister Yanis Varoufakis that Athens would deal "individually" with its EU, IMF and ECB creditors when bailout talks begin on Wednesday.

"Well, then his ideas have to be corrected," Schäuble told journalists in Brussels, a day after eurozone ministers agreed to begin talks that could lead to more cash for Athens and an extension of its current bailout beyond June.

"The institutions will do that together," he said.

Greece agreed with eurozone partners on Monday that talks in Brussels on Wednesday would be accompanied by visits to Athens from officials from the European Commission, International Monetary Fund and European Central Bank.

While seemingly minor, the format of the technical talks that begin on Wednesday between Greece and its creditors is a sorely sensitive issue in Athens.

After five years of painful austerity, Greece's leftist government swept to power in January on a hugely popular pledge to refuse all dealings with the troika team of creditors that saw through the tough reforms during two bailouts since 2010.
Prime Minister Alexis Tsipras has backed down on several of his anti-austerity promises, but seeing a return of the troika to Athens would be one of the most painful climbdowns.

During negotiations over the past month, Greece and many eurozone officials have started talking of the "institutions" instead of the "troika" in a nod to Greek sensitivities.

Since the leftists took office in Greece, the outspoken Varoufakis and Schäuble have engaged in a war of words, though the two men sat down after the ministers' meeting on Monday.

Story continues below…

"He does not have an easy job. We met yesterday for long and intensive talks," Schäuble said in a rare moment of sympathy towards Varoufakis.


"I always tell him I would not like to change with him," he said, without revealing much about the content of the one-on-one talks.

For more news from Germany, join us on Facebook and Twitter.

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Berlin Holocaust memorial could not be built now: creator
The Memorial to the Murdered Jews of Europe, in Berlin. Photo: DPA.

The architect of the Berlin Holocaust memorial has said that, if he tried to build the monument again today, it would not be possible due to rising xenophobia and anti-Semitism in Germany and the United States.

'Liberal' Germany stopping Europe's 'slide into barbarism'
Ian Kershaw. Photo: DPA

Europe is not slipping into the same dark tunnel of hate and nationalism that it did in the 1930s - mainly thanks to Germany - one of the continent's leading historians has said.

Eurowings strike to hit 40,000 passengers
Travelers impacted by the strike on Thursday wait at Cologne Bonn airport. Photo: DPA.

The day-long strike by a Eurowings cabin crew union is expected to impact some 40,000 passengers on Thursday as hundreds of flights have been cancelled.

Deutsche Bank reports surprise quarter billion profit
Photo: DPA

Troubled German lender Deutsche Bank reported Thursday a surprise €256-million profit in the third quarter, compared with a loss of more than six billion in the same period last year.

US 'warned Merkel' against Chinese takeover of tech firm
Aixtron HQ. Photo: DPA

The German government withdrew its approval for a Chinese firm to purchase Aixtron, which makes semiconductor equipment, after the US secret services raised security concerns, a German media report said Wednesday.

Long-vanished German car brand joins electric race
Photo: DPA

Cars bearing the stamp of once-defunct manufacturer Borgward will once again roll off an assembly line in north Germany from 2018, the firm said Wednesday.

Eurowings cabin crew union to strike all day Thursday
Photo: DPA.

UPDATE: A union representing cabin crews on Lufthansa's budget airline Eurowings has announced that strikes will last all day Thursday as ongoing contract negotiations continue to falter.

Hesse hopes to set example by building Iraqi orphanages
Refugee children in northern Iraq. Photo: DPA

The wealthy central German state of Hesse has set aside €1 million to build a school, family homes and an orphanage in northern Iraq, in an effort to help refugees there.

The Local List
10 German clichés that foreigners get very wrong
David Hasselhoff. Photo: DPA

Whether it be efficiency, humourlessness or a love of a certain Baywatch star, there are many cliches stuck in the heads of foreigners about Germany. But how true are they?

Fake Germanwings victim relative convicted in Cologne
A torn piece of metal at the crash site in 2015. Photo: DPA

A German court on Wednesday gave a woman a year's suspended jail sentence for posing as the cousin of a victim in last year's Germanwings plane crash and obtaining compensation offered by the airline.

10 German clichés that foreigners get very wrong
Sponsored Article
Last chance to vote absentee in the US elections
10 ways German completely messes up your English
Germany's 10 most weird and wonderful landmarks
10 things you never knew about socialist East Germany
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
jobs available
Toytown Germany
Germany's English-speaking crowd