Schaeuble: Greece can be competitive once it makes reforms

Greece can have a competitive economy once it makes reforms agreed with its eurozone creditors, German Finance Minister Wolfgang Schaeuble said on Monday.

Asked if it was realistic to demand that Greece should have a primary budget surplus for a decade beyond 2018 as some creditors have proposed, Schaeuble replied:

"I think for Greece it is realistic that they should carry out reforms to make themselves competitive. It's about that, nothing more…. For Greece it is a long, hard road." [Reuters]