Germany: Confident in Spain's economic recovery

Published November 20, 2014

German Finance Minister Wolfgang Schaeuble says he doesn't fear Spain's path will follow that of Greece following an agreement to provide Madrid with up to €100 billion in eurozone loans.

Schaeuble was quoted in Bild newspaper Monday as saying the Spanish situation is totally different than that of Greece, which has so far been unable to fulfill the conditions set for receiving two bailouts totaling €240 billion.

Schaeuble says "the causes of the crises in the two countries are totally different."

"Spain's economy is much more powerful and has a different structure — the country will be back on track soon."

He wouldn't say if he thought Greece may abandon the euro currency if so-called "troika" of international debt inspectors came up with a negative report this week.

URL

https://www.foxnews.com/world/germany-confident-in-spains-economic-recovery