Schaeuble: There will not be a new greek crisis

Schaeuble: There will not be a new greek crisis

Athens, May 20, 2016/Independent Balkan News Agency

By Spiros Sideris

German Finance Minister Wolfgang Schaeuble expressed confidence that there will not be another crisis in relation to Greece.

Speaking in Sendai of northern Japan, he said that the finance ministers expect to reach an agreement at the meeting next Tuesday, adding that he has already spoken to the head of the IMF Christine Lagarde.

“I am hopeful that what I said still applies, namely that there will be no new crisis in Greece and in connection with it”, he said, in view of the meeting of finance ministers and central bankers of the G7.

He warned about the consequences of the very loose monetary policy around the world: “You also know that I believe that the high levels of debt and liquidity tend to amplify the volatility and hence the nervousness”.

He also said he believes the high degree of volatility and nervousness seen in financial markets is greater than what can be justified by economic developments and this is part is due to geopolitical risks.

For the possibility of Britain leaving the EU, he said: “Everyone will agree to hope that the British would make a decision that it is in Britain’s interest and will meet their responsibilities”.