The German Minister of Finance Wolfgang Schäuble gave a brief note to Greece that if the Medium-Term fiscal programme is not voted by the Greek Parliament then Greece will have to deal with significant consequences.
According to the interview that he gave to the German newspaper ”Bild am Sonntag”, Eurozone has to be prepared for the worst scenario, if the rescue plan for Greece fails.
The Minister stressed that he expects from Greece to implement the austerity program, otherwise Europe will have to deal with severe problems.
From his point of view, organization is the key issue at this time because if things go wrong Europe will face a collapse.
No special privileges or extra motivation are necessary in the private section, stabilization of the situation is by itself an advantage for all banks. He points out that the participation of the German banks in the new rescue package of Greece will be a benefit.
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