First Destroying, then Expelling Greece from Eurozone? Germany’s Finance Minister Shaeuble on Behalf of Creditors

‘German Finance Minister Wolfgang Schaeuble on Wednesday brought back the Grexit issue by saying that unless Greece implements reforms it cannot stay in the euro zone.
The German finance minister spoke to the country’s broadcaster ARD in light of the stalled negotiations between Greece and creditors over the bailout program review and the recent International Monetary Fund report that calls for a Greek debt haircut in order to make it sustainable.
“The pressure on Greece to undertake reforms must be maintained so that it becomes competitive, otherwise they can’t remain in the currency area,” Schaeuble said, referring to fiscal measures needed such as further pension and wage cuts and the widening of the tax base.’
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