Greece votes for fiscal reform reform, says Minister

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The outcome of the elections in Greece shows that Greeks are in favour of the deep economic and fiscal reforms required to pull the country out of crisis, German Finance Minister Wolfgang Schaeuble says.

If the preliminary results are confirmed and the conservative pro-bailout party, New Democracy, wins the largest number of seats, “the German government would consider such a result a decision by Greek voters to forge ahead with the implementation of far-reaching economic and fiscal reforms in the country,” Schaeuble said in a statement on Sunday.

In February, the head of New Democracy, Antonis Samaras, had declared his commitment to the program of reforms needed “to put the country back on the path of economic prosperity and stability,” Schaeuble said.

“This path will be neither short nor easy, but is necessary and will give the Greek people the prospect of a better future,” he said.

Political stability was crucial for the programme to succeed, Schaeuble noted.

The euro zone would “stand by its commitment to Greece,” he continued.

As soon as a new government was appointed, the so-called “Troika” – made up of the European Union, the International Monetary Fund and the European Central Bank – “will consult with the authorities in order to assess the programme’s implementation, form a view about the current situation, and work towards making the adjustment program succeed,” Schaeuble said.