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Germany's Schaeuble frets about market impact if Greece drops bailout
February 9, 2015 / 1:16 PM / 3 years ago

Germany's Schaeuble frets about market impact if Greece drops bailout

ISTANBUL (Reuters) - German Finance Minister Wolfgang Schaeuble suggested on Monday he was worried what the impact on financial markets would be if the new Greek leftist leader, Alexis Tsipras, carries out his threat to exit Greece’s international bailout agreement.

Greek Finance Minister Yanis Varoufakis and German Finance Minister Wolfgang Schaeuble (L) address a news conference following talks at the finance ministry in Berlin February 5, 2015. REUTERS/Fabrizio Bensch

“I wouldn’t know how financial markets will handle it, without a program - but maybe he knows better,” Schaeuble told reporters at a meeting of G20 ministers in Istanbul.

Despite meeting Finance Minister Yanis Varoufakis last week, Schaeuble said he still didn’t understand how Athens planned to deal with its problems. He agreed with Mario Draghi of the ECB that if Athens wanted a “bridging” deal, it needs the bailout.

“We’ve never forced anyone into a program,” Schaeuble said. “I‘m ready for any kind of help, but if my help is not wanted, that’s fine.”

Reporting by Gernot Heller; Writing by Stephen Brown in Berlin

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