“Greece has largely implemented the reforms. Greece can begin to stand on its feet again and regain access to the financial markets” Mr. Schaeuble told a conference hosted by Deutsche Bank on Friday.
Greece and its international creditors wrapped up the bulk of reforms required for the first 7.5 billion euros tranche, but left some loose ends which must be tied up before Athens can receive the rest by September.
The first 7.5 billion euros are expected to be released after the European Stability Mechanism meets on June 16-17 but before the UK referendum on Brexit on June 23.
Mr. Schaeuble told the German newspaper Handelsblatt in an interview published Friday that Greece had already significantly increased its ability to compete on the world market by lowering labor costs by 12%.
“But it is still true that Greece must continue to push ahead with further reforms” he told the newspaper, in order “to shore up the longer-term stability of its government finances and ensure the repayment of its loans”.
Referring to the UK referendum on whether the country should remain or leave the European Union, Mr. Schaeuble it could spur similar referendum votes elsewhere.
Speaking at the conference hosted by Deutsche Bank in Berlin, he added other countries might follow suit with referendums if Britain voted on June 23 to exit the European Union.