Schauble's harsh words on Greek proposals

In an interview earlier today on German Radio Mr. Schaeuble noted that the issue at tonight's meeting is not to find a compromise, but "to make Greece competitive again" and added that many of his colleagues in the European Union said that the standard of living in their countries is lower than that of Greece.

Referring to the EU-wide social programs proposed by the Greek side, the German finance minister stressed that not enter into debate and called it "a waste of time."

Germany does not want Greece's exit from the Eurozone, he noted. Schaeuble, but was quick to clarify that in order for Greece to avoid this and to receive further aid from the EU, the government will have to meet at least minimum conditions. In all Eurozone countries there is a great willingness to help Greece to help itself. "The question is whether they and the Greeks want it," said Mr. Schaeuble adding that he considers that the new Greek government is addressing the issue as "a great poker game."

Earlier, referring to the technical discussions held in recent days, he appeared skeptical and not very optimistic about the prospect of reaching agreement at today's meeting of the Eurogroup.

"From what I heard on the technical talks over the weekend, I am very skeptical, but today we will get a report and see," said the Finance Minister on German radio.