Archive for October 2012
“All of the countries which are in a program, except Greece, which is in a particularly difficult situation, have made remarkable progress. Even though they are not in a program, what Spain and Italy have achieved is grand,” German finance minister Schaeuble said at a conference last Thursday. His statement came just over a week after he told reporters that it is not time to speculate about Greece and it is best to wait for the troika report – something that many in Greece interpreted as a product of the gradual restoration of the two countries’ relationship after the Greek Prime Minister visited Berlin in August. But the German finance minister seems incapable of helping himself when there is an opportunity to brand Greece a “special case” that has failed to make the progress that the official sector creditors expect.