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DAVOS, Switzerland – Germany’s finance minister, Wolfgang Schaeuble, has denied reports that the country has modelled a potential Greek exit — the so-called “Grexit” — from the 19-country eurozone.
Speaking at a panel Friday at the World Economic Forum in the Swiss resort of Davos, Schaeuble said “we don’t model any exit.”
The potential of a Greek exit from the eurozone has resurfaced ahead of a general election Sunday where opinion polls point to a victory for Greece’s left-wing Syriza party. Syriza has talked of massive debt forgiveness and riding roughshod over the bailout deals.
While praising Greece’s efforts to get its economy in order, Schaeuble cautioned that Greece won’t benefit from the European Central Bank’s new stimulus program if any new government decides to ditch the reforms required for bailout cash.