German FM Westerwelle Expresses ‘Serious Concerns’ For Greece

The German FA Minister, Guido Westerwelle, expressed his concern for the post-election turmoil in Greece during a symposium organized by German state broadcaster WDR in the European Parliament.

“My concern with regard to recent developments in Greece is very serious,” Westerwelle said warning that “Greece has to recognize what’s going to happen if it repeals agreements which have been made.”

The German minister also noted that he doesn’t see it likely that ” the respective tranches [of aid] can be paid out, If Greece ends the reform process it has undertaken.”

Despite expressing serious concerns he admitted that “it’s not up to us to tell Greek people how they should be pursuing coalition discussions.”

He said the willingness was there to continue to support Greece, “but Greece holds its own future in its hands… and it must stick to its reforms.”

Westerwelle was speaking to journalists on the margins of a symposium held for Europe Day at the European Parliament, when he voiced “grave concerns” about the latest political developments in Greece and recent threats by some politicians to break austerity measures agreed with international lenders in exchange for a second, multi-billion euro bail-out package.

The Minister also commented on France’s election outcome, saying that a French PM coming from a different party than German PM Merkel is not a reason of concern. Westerwelle added that the EU “have to learn from the crisis and make changes that are possible without treaty amendment,” mentioning directing subsidies towards growth as an example.


1 COMMENT

  1. If they are so concerned then why did they allow fraud and derivatives?  Germany’s banks hold 10 times their GDP in derivatives.  Why don’t they use the power of the EU to go after Goldman Sachs, JP Morgan, Blythe Masterson, Lloyd Blankfein etc etc.