Schaeuble: Greece Will Need A Decade To Regain Competitiveness

BERLIN (MNI) – Greece will need years to regain its
competitiveness, German Finance Minister Schaeuble said in a newspaper
interview published Thursday.

“The Greeks will likely need a decade to become competitive again,”
Schaeuble told the German regional daily Passauer Neueste Nachrichten.

Commenting on the U.S. debt row, the finance minister said, “I
remain confident that a sustainable solution will be found — even
though maybe only at the last minute.” Still, the core problem of
excessive public debt in the U.s. will not be solved by this, he
cautioned.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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