German minister says disappointed with Greece reforms
Sun Aug 12, 2012 1:34PM
The Greeks have hardly responded to our offers." German Minister of Economy Philipp RoeslerGerman Minister of Economy Philipp Roesler has expressed disillusionment with debt-ridden Greece’s endeavors to implement reforms to save its economy. "I've lost my illusions," Roesler told the weekly magazine Focus in an interview to be printed on Monday.
"I proposed with German businesses a whole series of support measures for the Greek government,” he said.“The Greeks have hardly responded to our offers,” added Roesler, who is also vice chancellor and leads the pro-business Free Democrats in Germany's ruling coalition. Last month Roesler expressed doubt that Greece will continue to remain in the 17-member eurozone.
Greece has promised to cut 11.5 billion euros off its 2013-14 budget in order to get bailout from other eurozone countries and the International Monetary Fund (IMF).Greece has been at the epicenter of the eurozone debt crisis and is experiencing its fifth year of recession, caused by the harsh government-introduced austerity measures. The long-drawn-out eurozone debt crisis, which began in the country in late 2009 and reached Italy, Spain, and France last year, is viewed as a threat, not only to Europe, but also to many of the world’s more developed economies. KA/JR