BREAKING NEWS

Germany "won't overstrain" Greece but reforms set in stone

By REUTERS

JUNE 18, 2012 12:24

BERLIN - Germany expects the next Greek government to stick to the terms of the bailout agreement which remain non-negotiable, officials said on Monday, while comments from the foreign minister about giving Athens more time for reforms were quickly slapped down.

Berlin hailed Sunday's election victory for the conservative New Democracy over the radical leftist SYRIZA block as a clear vote by Greeks to remain in the euro zone and respect bailout terms imposed by Europe and the International Monetary Fund.

Germany's deputy finance minister said Greece's creditors in the European Union considered that further loan tranches would hinge on a new Greek government's commitment to reforms, while Foreign Minister Guido Westerwelle made it clear the heavily-indebted euro zone state still had a lot of work to do.

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