German Finance Minister Wolfgang Schaeuble to consider Grexident

Noam Stiekema

The German Finance Minister Wolfgang Schaeuble consider Grexident and no longer exclude the possibility of Greece’s exit from the Eurozone.

Wolfgang Schaeuble

The German Finance Minister Wolfgang Schaeuble consider Grexident and no longer exclude the possibility of Greece’s exit from the Eurozone, something which a few weeks ago many politicians considered impossible.

The Minister is usually quite restrained in his speeches, but now attacked the Greek government directly after the recent statements of the Greek Prime Minister.

“As the responsibility and the opportunity to decide what will happen is Greece and since we do not know exactly what the government is doing there, we can not turn GrExit off”, said Wolfgang Schaeuble.

In this case, it comes to the so-called Grexident – unplanned accidentally leaving the monetary union, not Grexit, which would have been planned exit from the Eurozone.

To view joins and Austrian Finance Minister Hans Jörg Schelling, who claims that “between European partners and Athens appears abyss”.

“One Grexident will be more terrible than anything we imagine. Greece wants to stay in Eurozone, we also want to stay, but this is possible”, he said.

Nevertheless Schaeuble believes the debt problem of the country to overcome. “Each Eurozone country must return to this situation, in which there is so much revenue as expenses. And Greece is developing better in this regard”, said Schaeuble.

However, according to him, should strengthen the competitiveness of the country. Schaeuble also added that Athens must meet its commitments, it was clear that otherwise there will be no further payments under this program.

“Europe is ready to help Greece, but Greece has to help itself. The problem can not be solved by turning others into scapegoats”, he said.

Meanwhile, Prime Minister of Greece Alexis Tsipras continued his efforts to persuade leading European politicians and economists need to renegotiate the conditions for aid to the country.

Tsipras is meeting today in Brussels with European Commission President Jean-Claude Juncker. “I am pleased with the developments in recent weeks.

I do not think we have enough progress, “Juncker said after the meeting. However, completely exclude failures. I do not want failure. Europeans want to go together”, he said.

According to Tsipras problem is a problem of Greece and Europe. “Greece has begun to fulfill its obligations mentioned in the decision of the Eurogroup of 20th February, so we have done our part, and we expect our partners to fulfill theirs”, he said.

Read this next


US and South Korea seek extradition of Luna founder Do Kwon

Both US and South Korean officials are seeking to extradite Terraform Labs CEO Do Kwon, just hours after he was arrested in Montenegro.

Retail FX

Pepperstone UK doubles profit, client assets in 2022

The London-based entity of Australian FX broker Pepperstone has reported its financials for the fiscal year ending June 30, 2022. The group had outperformed the last year’s flat performance, having doubled revenues and boosted the broker’s bottom line and shareholders’ fortunes.

Institutional FX

CLS FX volume rises to just shy of $2 trillion in February

Foreign exchange settlement provider, CLS Group saw strong volumes in February 2023 as the banking crisis continues to weigh on a world economy that’s yet to fully recover from the Russia-Ukraine war’s shocks.

Digital Assets

Binance restores trading after 2-hour outage

Binance suffered a breakdown on its trading engine that lasted for about two hours, but the premier cryptocurrency exchange finally managed to restore normal operations at around 14:00 UTC.

Digital Assets

Tether earns $700 million in Q1, taking excess reserves to $1.6 billion

Tether chief technology officer Paolo Ardoino said the world’s largest stablecoin issuer expects to earn more than $700 million in the January-Mach quarter, which will be added to the reserve backing its stablecoin (USDT).

Digital Assets

Narwhal Finance Secures $1M in Seed Funding Led by Animoca Ventures

Narwhal Finance received strong support from Animoca Ventures and angel investors in a $1 million seed funding round, reinforcing the company’s vision of providing an accessible platform to all.


SteelEye tries ChatGPT for market surveillance

This capability can be used as a starting point for initiating a surveillance investigation and to standardize workflow processes to boost the throughput and consistency of cases. It is also useful when analyzing communications in foreign languages, as the system returns the above insights in English regardless of the languages being used.

Industry News

SEC charges ex-Morgan Stanley advisor of NBA players after $13m fraud

Darryl Matthew Cohen was arrested this week and is facing three different federal counts of fraud, which could amount to 20 years in prison if convicted, besides the SEC complaint. 

Industry News

AWS FinTech Africa Accelerator launched, applications until April 27, 2023

Founders will be offered tech resources, expert guidance, and a global network of industry leaders, technologists, entrepreneurs, investors, associations, and partners, in order to build their fintech products.