German finance minister says no more risks of contagion in euro zone

Greek Prime Minister Antonis Samaras stressed his country did not need a further bailout.

Written by Reuters | Berlin | Published: November 24, 2013 5:58:26 am

German finance minister Wolfgang Schaeuble said on Saturday that there were no longer any risks of contagion in the euro zone,and Greek Prime Minister Antonis Samaras stressed his country did not need a further bailout.

Schaeuble said Greece’s achievements in the last 1-1/2 years,which included better-than-expected growth and progress in reducing its deficit,merited respect. He also pointed to the decline in the difference between yields on German and Greek bonds.

He said government crises and coalition negotiations no longer posed contagion risks for the single currency bloc as a whole,without specifying which country or countries he was referring to.

“The euro is stable,financial markets are no longer concerned about the future of the euro zone and there are no risks of contagion anymore,” he said at a conference organized by German newspaper Sueddeutsche Zeitung in Berlin.

Speaking later at the event,Greece’s Samaras reiterated that his country did not need a further bailout and instead simply needed to fulfill the terms of its existing programme.

“I think that this is enough. We don’t need something else — we don’t need another programme — we just have to stick by this program,” Samaras said.

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