"Renzi's approach, in terms of deep structural reforms in his country, is completely right." This was stated by the German Finance Minister, Wolfgang Schaeuble, in an interview with the portal 'Yahoo Deutschland'. Schaeuble, considered one of the fiercest hawks of rigor and in the past never too tender with the Italian government, stressed that he hoped that "Renzi will be successful with structural reforms".
“If it were possible to solve all the problems by increasing the debt – Schaeuble also added -, Italy would have no more problems. Renzi is following the right approach by tackling impactful structural reforms in his country. This is never easy. People generally prefer to go the simple route, such as spending other people's money. But that only helps in the short term, it does nothing but harm in the long run. I can only hope that Mr. Renzi is successful with his structural reforms."
Schaeuble also noted that Europe has already made a contribution to countries that had budget problems. “In the financial markets we have given him the necessary time – he said – through guarantees paid by taxpayers. In Germany at the beginning doing this was a point of disagreement, but it was right and important. We need solidarity. But it's about giving help to allow others to help themselves. In the end, each country has to solve its problems on its own."
