German FinMin Schaeuble: Greece is in dreadfully difficult situation

No shit sherlock!!

  • European central bank can’t keep euro stable by monetary means alone, fiscal policy also key
  • Greece would devalue currency if it had own currency
  • Euro makes sense for Greece
  • Price of Greek euro exit would be very high
  • Euro zone is in highly nervous state

Elsewhere

German govt spokesman

  • Very important for Germany that Greece manages to build stable government

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