Schaeuble: Agreement aims to help Greece regain competitiveness; debt relief examined at end of program

Friday, 16 June 2017 01:11
UPD:01:26
REUTERS/RUBEN SPRICH

Earlier, Schaeuble said it was up to German lawmakers to decide whether the agreement constitutes a "fundamental change" in the current Greek bailout program (file photo).

German Finance Minister Wolfgang Schaeuble on Thursday said the Bundestag will consider the disbursement of a 8.5-billion-euro loan tranche to Greece on Friday, hours after the Eurozone approved of the outlay - something that was more-or-less expected.

He also said the agreement will support Greece in regaining its competitiveness.

Earlier, Schaeuble said it was up to German lawmakers to decide whether the agreement constitutes a "fundamental change" in the current Greek bailout program.

"We consider that it is not a fundamental change in the program," he said, adding: "Greece must be competitive to acquire access to the markets, so that it can stand on its own two feet ... That's why Greece must implement reforms."

In touching on one of the most crucial points in deciphering the agreement, Schaeuble said further measures, such as debt relief, will be examined only after the conclusion of the current program.

"If more measures are deemed necessary at the end of the program, then we can take them ... the expectation is that the plan will be successful."  

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