News Column

Merkel Calls Greek Election Result 'Good News for the Euro'

June 18, 2012
Euro

German Chancellor Angela Merkel regards the victory of pro-euro parties in the Greek election as "good news for the euro, for the eurozone and for Europe," a spokesman, Georg Streiter, said Monday.

Speaking in Berlin as Merkel was arriving in Los Cabos, Mexico, for a G20 summit, he also appeared to rule out time extensions for Greece to implement economic reforms - as suggested earlier by Foreign Minister Guido Westerwelle.

On Sunday night, Westerwelle, who belongs to a different political party from Merkel, said on Germany's ARD public television, "I could well imagine we could talk again about time frames."

Asked Monday by Deutschlandfunk public radio to elaborate, he said, "It's obvious that time has been lost through the election campaigns, and we will have to discuss what this means for the reforms and naturally for the (bailout)," he said.

"We are willing to talk about the time frame, since you can't ignore the weeks that have been lost, and we also don't want the people to suffer who now have a very harsh life through many reforms being neglected in the past."

At a morning news conference at the Foreign Ministry, he again stressed that time had been lost, but merely said this meant it was even more important for the reforms to go ahead.

"There cannot be any substantial let-outs from the agreed reforms," he said.

Asked if Berlin expected the terms to ease, Streiter said, "Now is not the time for discounts."

He said Merkel assumed Athens would carry out its obligations. She telephoned Antonis Samaras, leader of the New Democracy party, on Sunday night and urged the rapid formation of a stable government, he said.

ARD public television said Westerwelle, who belongs to the pro-business Free Democratic Party, may not have coordinated his stance with Merkel, the leader of the Christian Democratic Union.

The German Finance Ministry said through a spokeswoman that an upcoming 31.3-billion-euro (39.6-billion-dollar) bailout payment would only reach Athens when a stable government was in place.

A panel comprising the European Commission, the International Monetary Fund and the European Central Bank would assess if Athens had satisfied the terms to receive the funding, she said.



Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH


Story Tools