BERLIN (Reuters) - Greece must agree to tough new austerity measures before it receives any financial aid from the European Union and failure to do so would endanger such support, German Finance Minister Wolfgang Schaeuble told a newspaper. "The fact that neither the EU nor the German government have taken a decision (on providing aid) means that the response can be positive as well as negative," Schaeuble told the Sunday edition of Bild.
"This depends entirely on whether Greece continues in the coming years with the strict savings course it has launched. I have made this clear to the Greek finance minister."
Greece bowed to pressure from financial markets on Friday, making a formal request for the activation of a joint aid package from the EU and International Monetary Fund (IMF) that is valued at up to 45 billion euros ($60.49 billion).
Considering that Greece has al ready jumped all over the first package, I do wonder what will happen on the streets of Athens as the Unions recognize that the good times are over.
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