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Schaeuble: Greek Austerity Is Working

But German Finance Minister Wolfgang Schaeuble told a Greek newspaper he believes austerity measures in the crisis-hit country are working, despite growing hardship and high unemployment.

"All the main indicators show that the mix (of measures) is working. But that will take more time that many would hope for in Greece," Schaeuble told the Athens daily Ta Nea in an interview published Tuesday

Schaeuble said that the measures were making up for decades of policy "lapses," and rejected the notion that Germany is dominating the eurozone and dictating its policy.

"There have been many misperceptions. What is a 'German Europe?' - I don't understand what that means," he said. "All decisions taken by the eurozone and the European Union to deal with the crisis were taken unanimously."

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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