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MENAFN - Qatar News Agency - 30/12/2012

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(MENAFN - Qatar News Agency) The worst of the euro zone sovereign debt crisis is over, German Finance Minister Wolfgang Schaeuble told Bild newspaper.

Governments in heavily indebted countries such as Greece have now recognized that the crisis that began in Athens three years ago will only be overcome by implementing bitter reform measures, he said.

"I believe the worst is past," Schaeuble told the Geramn daily newspaper.

"The government in Athens knows that it cannot financially overburden other euro zone countries. They are thus pushing forward with the reforms," he said.

Schaeuble also said he was optimistic about France, Europe's second major economy, and its efforts to stop its debt burden expanding.

"I am certain that France will fulfill its obligations," he said. "The government definitely knows that every country has to permanently pursue reforms to remain competitive."

 






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