Germany puts pressure on Greece for reforms.
German politicians maintained pressure this weekend for Greece to implement reforms, with German Economy Minister Sigmar Gabriel warning that a third aid package would not be planned if the Greeks do not make changes; Greece is rapidly running out of resources, and negotiations with its creditors are at an impasse over the reforms, including pension cuts and labor market liberalization; since 2010, Athens has depended on the €240 billion bailout from the European Union and the International Monetary Fund (IMF) to pay its bills, and the country has not received financial assistance since August of last year.
Reuters - German politicians maintained pressure this weekend for Greece to implement reforms, with German Economy Minister Sigmar Gabriel warning Athens during an interview that a third aid package would not be in the plans if the Greeks did not make changes.
Greece is rapidly running out of resources, and negotiations with its creditors are at an impasse due to demands for reforms, including pension cuts and labor market liberalization.
German Finance Minister Wolfgang Schaeuble suggested on Monday that Greece might need a referendum to approve difficult economic reforms, and Gabriel said such a vote could speed up the decisions.
Athens says it has no plans for a referendum at the moment.
Gabriel, leader of the Social Democrats, members of Chancellor Angela Merkel's coalition, emphasized that the Greek government needs to take action.
"A third aid package for Athens is only possible if the reforms are implemented. We can't simply send money," he told a newspaper.
Conservative MP Markus Ferber told Der Spiegel magazine that there was no majority in Germany to send a third aid package to Greece.
Since 2010, Athens has depended on the €240 billion bailout from the European Union and the International Monetary Fund (IMF) to pay its bills. Greece has not received any of these funds since August.
On Friday, Greek Prime Minister Alexis Tsipras said the country had reached a basic consensus with international creditors, but that the government would not back down from its limits, such as not cutting salaries and pensions.
Volker Kauder, parliamentary leader of the conservatives, Merkel's group, told a newspaper that the situation is "very difficult" and that "the Greeks must show that they are continuing on the agreed path."