Wolfgang Schäuble: Greece is obliged to implement the reforms

In an interview with French newspaper Le Figaro, German Finance minister Wolfgang Schäuble reiterated that if Greece wants to return to the international markets, it is required to implement all the necessary structural changes.

The German minister describes the effort by the Greek prime minister Antonis Samaras to implement the necessary reforms as "Herculean" and said that Europe will be on the side of Greece. "Reforms in Greece have been delayed for reasons of domestic policy. The Greek government must explain to its people why these reforms should be applied."

He added that the current crisis in the Eurozone is an historic opportunity to strengthen the European Union itself. "Helmut Kohl and Francois Mitterrand worked towards European integration and now Angela Merkel and Francois Hollande must take the next steps for the further fiscal and economic integration of Europe."

Meanwhile, in his interview in the German newspaper Bild, German Foreign minister Guido Westerwelle rejects any possibility of renegotiation of the fiscal adjustment program. "I see that Greece is seeking to renegotiate the situation and that actually undermines the obligations for reforms in the country. I simply say: This will not happen" he says, and asks Greeks to clearly show that they want to remain in the Eurozone