Europe Can’t Help Greece Unless It Helps Itself: Germany
European Union paymaster Germany warned Greece on Thursday that European partners could only go on aiding debt-ridden Athens if it sticks to an international bailout program rejected by voters in a general election.
Financial markets, spooked by the risk of a disorderly Greek default spreading turmoil, steadied as Spain’s move to clean up its banks and the release of a key payment to Athens eased immediate concerns about the euro zone.
“Greece can rely on the solidarity of Europe, but if Greece does not help itself, there is nothing to be done,” German Finance Minister Wolfgang Schaeuble told a news conference.
“Whether Greece is ready to do what is necessary - only the Greek people can decide.
The head of the euro zone’s rescue fund, Klaus Regling, said Athens would have to agree with international lenders on the terms for financial aid before any more money flows after June.