Time has come to defend euro: Germany

3rd May 2010, Comments 0 comments

German Finance Minister Wolfgang Schaeuble on Sunday hailed the belt-tightening programme announced by Greece and said the time has come "to defend the stability" of the whole 16-nation eurozone.

The German minister, arriving for eurozone talks in Brussels to approve loans to debt-laden Greece, said he had "a lot of respect" for the budgetary measures announced by the Greek authorities in exchange for the emergency help promised by Europe and the International Monetary Fund.

"This is a very solid programme," he told reporters.

"It is our obligation to defend the stability of the eurozone as a whole, that's our mission," he said.

"The better we fulfil that the better it will be for Europe" and for Germany, he stressed.

© 2010 AFP

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