German FinMin Praises Greek Bailout Measures

Germany’s finance minister has praised Greek economic reforms just hours after parliament passed a bill cutting thousands of public sector jobs.

Wolfgang Schaeuble visited Athens on Thursday amid massive police security.

During the visit he discouraged talk of Greece receiving a second write-off on its public debt owed to eurozone governments through bailout loans.

Deeply unpopular in Greece, Mr Schaeuble is viewed as the enforcer of the country’s harsh austerity measures.

“I am very impressed by what Greece has already achieved in rebalancing and modernising the economy,” Mr Schaeuble said, adding that Germany would contribute to a fund to provide liquidity to Greek businesses.

His visit followed several days of protests and a general strike over the new bill of austerity measures outlining the redeployment of up to 25,000 civil servants.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza