German FM to resign in extreme case of Greek bailout

German FM Wolfgang Schauble prepares his resignation in extreme case of Greek bailout instead of changing stance on deal

Photo by: AP
Photo by: AP

Updated Jul 28, 2015

Germany’s Finance Minister Wolfgang Schauble says he would resign but not change his position on the Greek bailout deal, which had faced criticism during the negotiation process.  

"Politicians' responsibilities come from the offices they hold. Nobody can coerce them,” he said to “Der Spiegel” magazine.  

“If anyone were to try, I could go to the president and ask to be relieved of my duties."

Spokesman of Germany’s Finance Ministry, however, responded to claims that Schauble may resign, with “No. Where did you get that idea?”

Schauble met a lot of criticism by his party’s socialist coalition partner and the public, on Monday, as the eurozone leaders agreed on Greece’s third bailout deal.

Gregor Gysi, leader of the German Left party, said on Friday that Schauble is an “undemocratic and anti-social” bureaucrat who is trying to “destroy the European idea.”

Schauble admitted in one of his recent interviews that he and Germany’s Chancellor Angela Merkel did not always share the same opinion on the Greece bailout deal.

Merkel has been quite open recently to negotiations on Greece’s bailout, while Schauble had a more cautious approach to the negotiation talks.

Furthermore, Schauble said in a recent interview that a temporary Grexit from the eurozone could be the best solution if Greece cannot reduce its amount of debt.

He later altered his statement and said he never said that Greece should leave the eurozone.

“We only called attention to the possibility that Athens itself can decide on taking a timeout,” he said.

“Debt relief is not possible within the currency union. European treaties do not allow it."

Earlier in July, Greek Finance Minister Yanis Varoufakis had resigned from his post after the country’s citizens overwhelmingly voted “no’’ to the bailout propositions from Greece’s international lenders, despite having said earlier that he would in fact resign if the country voted “yes.”

Over 60 percent of Greeks have dismissed the International Monetary Fund’s (IMF) bailout propositions and harsh austerity measures in a nation-wide referendum.

Meanwhile, Merkel has been mostly criticised by Germany’s opposition party, for her administration’s heavy austerity measures on Greece on the third bailout programme.

TRTWorld and agencies