German Chancellor Says Greek has Broken Pledges despite Aid

Angela Merkel has delivered an unusually sharp rebuke to the Greek government, accusing it of failing to implement necessary structural reforms while insisting a last-minute deal was still possible to keep it in the eurozone.

In a parliamentary speech she said that although Greece had received “unprecedented help from its partners”, it had failed to honour commitments it made to lenders. She quoted from agreements Athens had signed earlier this year, saying they had been broken.

In an atypically rowdy session of the Bundestag on Thursday, with Merkel receiving both applause and jeers as she spoke, the chancellor stressed that Germany would like to see Greece stay in the eurozone.

“It remains the case that Germany’s efforts are concentrated on keeping Greece in the eurozone,” she said. By praising countries such as Spain, Portugal and Ireland, which she said with the help of other partners and their own efforts, had got “back on their feet”, she expressed her disapproval of Greece’s attitude.

“These countries used their chances,” she said. “In the economic and monetary union, self-reliance and solidarity go hand in hand.”

via The Guardian

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.