German finance minister: 'I don't see' any further eurozone bailouts
August 27, 2013 -- Updated 1943 GMT (0343 HKT)
- German finance minister: 'I don't see' any further eurozone bailouts
- Greece, Portugal, Ireland and Cyprus remain dependent on EU/IMF bailout funds
- Comments come ahead of September 22 elections for Chancellor Angela Merkel
- The 17-nation eurozone recently emerged from its longest ever recession
(CNN) -- German Finance Minister Wolfgang Schaeuble says the eurozone's problems are not solved, but "we are in a much better shape than we used to be some years ago." Asked whether he foresaw any further bailouts coming, he replied: "No, no I don't see."
In a rare interview, conducted in English, he said: "If Chancellor Merkel (is) reelected I am confident that we will continue to work for a stronger Europe -- that's our general position. We don't want a German Europe but we want a strong Europe and that means every member state including Germany has to increase its competitiveness," Schaeuble said.
"A stronger Europe means that everyone has to do its duty and not to ask for more money by others -- that's the wrong way to get a strong Europe, that's the wrong incentive."
German FM: Greece needs until 2022
German FM: Eurozone in a better place
His comments come ahead of the September 22 election, as Merkel faces a German electorate weary of Europe's largest economy helping to bail out troubled eurozone nations, whose debt woes have threatened the stability of the currency.
Greek unemployment hits record 27.6%
Greece, along with three other eurozone countries -- Portugal, Ireland and Cyprus -- remain dependent on rescue loans from the EU and International Monetary Fund (IMF).
The 17-nation eurozone has emerged from its longest ever recession, growing 0.3% in the second quarter after 18 months of contraction. Unemployment rates remain high, but worries that the debt crisis could spread to larger economies such as Spain and Italy -- which both saw borrowing costs climb dangerously high last year -- have abated.
"You can see if you look at the rates for sovereign debts they are stable. Markets have confidence in the stability of the eurozone as a whole. And economies are recovering in the whole of the eurozone and the average deficit has been halved in all member states of the eurozone in the last three years."
Schaeuble acknowledged that Greece will need further assistance, but said there will be no further "hair cuts" -- such as 100 billion euros in losses Greek debt holders were forced to incur last year -- for Greece or any other eurozone nation.
Schaeuble: Enthusiastic and on campaign trail
CNN's Nina dos Santos and Irene Chapple contributed this this report
Part of complete coverage on
September 2, 2014 -- Updated 0135 GMT (0935 HKT)
Three Americans detained in North Korea spoke out about their conditions and pleaded for U.S. help in interviews with CNN.
Hundreds of jihadis in Syria are from abroad -- which countries have the biggest problem?
September 1, 2014 -- Updated 1951 GMT (0351 HKT)
CNN attends a funeral where mourners keep their distance.
September 1, 2014 -- Updated 0913 GMT (1713 HKT)
Libyan militia members have apparently turned the abandoned U.S. Embassy in Tripoli, Libya, into a water park.
September 1, 2014 -- Updated 2053 GMT (0453 HKT)
Obama's remarks that he didn't yet have a strategy for ISIS in Syria is widely criticized.
September 1, 2014 -- Updated 1126 GMT (1926 HKT)
A few miles south of the town of Starobeshevo in eastern Ukraine, a group of men in uniform is slumped under a tree.
September 2, 2014 -- Updated 0125 GMT (0925 HKT)
Beijing says only candidates approved by a nominating committee can run for Hong Kong's chief executive, prompting criticism.
August 29, 2014 -- Updated 0823 GMT (1623 HKT)
He should be toddling around a playground. Instead, his tiny hands grip an AK-47.
August 27, 2014 -- Updated 0023 GMT (0823 HKT)
Wilson Raj Perumal tells CNN how he rigged World Cup games: "I was giving orders to the coach."
August 26, 2014 -- Updated 0946 GMT (1746 HKT)
We asked you what you would like to know about Ebola. Experts answer some of your most common questions and concerns.
September 2, 2014 -- Updated 0955 GMT (1755 HKT)
In a major breach of privacy, a hacker leaked a series of pictures allegedly showing Jennifer Lawrence and other female celebrities in the nude.
According to the International Labour Organization, there are 168 million child laborers around the world.
Browse through images from CNN teams around the world that you don't always see on news reports.
Today's five most popular stories