Greek rescue ‘no longer eurozone obligation’

Eurozone politicians are not obliged to rescue Greece as the country is no longer of systemic importance to the euro, a senior member of German Chancellor Angela Merkel’s party has said.

In an interview with the Rheinische Post newspaper published yesterday, Michael Fuchs also said that Greek politicians could not now “blackmail” their partners in the currency bloc.

“If Alexis Tsipras of the Greek left party Syriza thinks he can cut back the reform efforts and austerity measures, then the troika will have to cut back the credits for Greece.