Wolfgang Schauble has again insisted the Greece is on the right track as he prepares to step down as German finance minister – Europe’s most powerful finance minister given Germany’s position within the European Union.
Schauble was appointed finance minister by chancellor Angela Merkel at the end of 2009, which was coincidentally around the same time as the then Greek government revealed that its budget deficit was double previous estimates, triggering the debt crisis that would engulf Greece over the next few years.
Speaking to the Financial Times in Berlin, Schauble said he felt vindicated by the reforms carried out by Greece and other Mediterranean countries in return for EU loans: “I would argue with anyone, even more strongly now after eight years, that this policy generates more sustainable growth than any other,” he said.
Schauble has been praised by some for his commitment to the Eurozone. Alexander Stubb, former prime minister of Finland, commented on Schauble’s role as de facto finance minister for the EU, saying: “Schäuble has been the treasurer of Europe and the de facto finance minister for the Eurozone.”