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Home > Diamond News Center > Diamond News > Financial News

Merkel: Greece Has 'One Last Chance'

23.08.12, 05:46 / Financial News
German Chancellor Angela Merkel used weighty words to describe her frustration with the Greek prime minister's request for more time to implement reforms, the Daily Mail reported. Merkel intimated that she was unmoved by Greece's pleas and that she would not be willing to give in to further demands from Antonis Samaras, its premier.
 
After Samaras appealed for an extra two years to follow through on austerity measures - the conditions required to receive two multi-billion-dollar bailouts from its European neighbors – Merkel outright rejected the call for more time. Specifically, Merkel said that she does not care if Greece would be forced to back out of the euro zone. The German Chancellor said that this was Greece's one and only chance to avoid total national bankruptcy.
 
Dr. Michael Fuchs, the deputy chair of Merkel's CDU party echoed supported the chancellor's hard-line stance, saying that if Greece left the union it would not have disastrous consequences because such a possible outcome is not unexpected.
 
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