Schaeuble: Greek society must answer the question of whether it prefers to proceed with this adjustment process as a member of a monetary union

German Finance Minister Wolfgang Schaeuble addressed Greece’s future, during an interview with German Frankfurter Allgemeine.

“Greek society must answer the question of whether it prefers to proceed with this adjustment process as a member of a monetary union, in which the option of an external devaluation is not available,” he said.

Schaeuble noted that prior to SYRIZA’s leader Alexis Tsipras ascension to the Greek Prime Ministry in January 2015, the Greek government under former New Democracy leader Antonis Samaras was heading in the right direction.

“The Samaras government was on the right track. Mr. Tsipras used the understandable and increasing concern of the Greek people, due to the burdens of this adjustment, and promised Greeks: We will remain in the euro, without a program and without an adjustment. This was a promise that Tsipras was of course unable to keep. It then took him six months to do the opposite,” he said.

Tsipras is hoping to regain the prime ministry in the September 20 Greek elections, as the latest opinion polls foreshadow a tight race with New Democracy President Evangelos Meimarakis.