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article imageGerman finance minister sends warning on Greek elections

By Katerina Nikolas     May 5, 2012 in Politics
On the eve of the Greek elections German Finance Minister Wolfgang Schaeuble sent a warning to Greece that it will have to "bear the consequences" if it fails to elect a government that does not respect commitments made by the current government.
Greek democracy appeared to be undermined once again by German Finance Minister Wolfgang Schaeuble when he sent a warning to Greece that it must vote in favor of adhering to austerity and loan commitments or face the consequences.
Asvoters prepare to show their disdain for unpopular austerity measures by rallying behind anti-EU parties, Schaeuble warned “The future government in Greece must abide by the country’s commitments,” Euro News reported. Schaeuble reminded that EU membership is voluntary as he added “If Greek voters were to vote for a majority that does not honour those agreements, then Greece will have to bear the consequences of that.” Earlier this year Schaueble was criticized for seemingly telling Greece how to conduct its affairs when he opined the nation must dramatically change its ways, saying "Greek promises on austerity measures are no longer good enough because so many vows have been broken and the country that has been a 'bottomless pit.'"In addition to the German's comment on Greek elections Ekathimerini reported the Institute of International Finance (IIF) has also issued a report. It warns that if a fragmented coalition government is elected without a clear mandate then "an administration of technocrats should take over the running of the country in order to ensure stability."New Democracy, whose leader Antonis Samaras is widely tipped to lead a coalition government, reacted in anger to the report by the IIF. New Democracy spokesman Yiannis Michelakis released a statement criticizing the IIF conclusions which said “We are greatly surprised by the references to the Greek elections on May 6 in the IIF’s report. We remind the authors of the report that we have a democracy in Greece and we do not need anyone’s instructions.”
More about Wolfgang Schaeuble, Greek elections, Institute of International Finance
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