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Schaeuble Shrugs Off Greek Vote Saying Euro Exit Is Best

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Tsipras Wins Bailout Vote in Shadow of Party Defections

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German Finance Minister Wolfgang Schaeuble told Greece the only way it’ll get a debt reduction is to leave the euro and cast doubt on the country’s ability to even complete negotiations on a third bailout.

Schaeuble, who led the charge for Greece to take time out from the single currency region, said the Greek parliament’s vote to accept the austerity that is a precondition of further aid was a “step further forward.” Yet he reiterated his view that a temporary exit from the 19-nation euro region may be “the better way” since it would allow the debt forgiveness that is necessary yet banned under euro rules.