German FinMin Says New Government Has Damaged Economy

Wolfgang Schauble, Germany’s finance minister, said Wednesday Greece’s new government has “damaged” the country’s improving economy, Reuters reported.
He also said he does not expect a solution to the country’s financial woes to be reached in the next few weeks and that the main problem with Greece’s economy is not its loans, but rather its lack of economic competitiveness.

Tensions between Greece and its creditors took another turn for the worse this weekend, following a report that euro zone officials were “shocked” at Greece’s failure to outline detailed structural reforms and its demands for cash at talks in Brussels last week.
Schauble made his remarks as the European Central Bank reiterated its quantitative easing measures by leaving interest rates unchanged at 0.05 percent. Schauble praised the central bank’s QE program, saying it has many good reasons for being implemented.

The ECB rolled out its 1.1 trillion euro quantitative easing program last month.

via CNBC

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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