New Greek leader must keep austerity vow: Germany

Germany has warned that any new government in debt-ridden Greece must respect commitments made by its predecessor as the country’s lawmakers failed to elect a new president, moving Athens closer to snap elections.

The comments were made by Germany’s Finance Minister Wolfgang Schaeuble in an interview with Germany’s Bild newspaper published on Saturday.

“We will continue to help Greece along the path of difficult reforms,” said Schaeuble, adding, however, that if Greece “decides to take another path, that will be more difficult.”

On December 23, the Greek parliament rejected to elect the pro-austerity candidate, Stavros Dimas, as president in a second round of voting.

Greek lawmakers are set to vote in a decisive third round on December 29. If Dimas is not approved, the parliament will be dissolved and a general election will be called in a month.

Germany along with the European Union (EU) and the International Monetary Fund (IMF) are concerned over any Greek snap elections as it might be won by the leftist Syriza party.

Syriza is calling for an end to the country’s four-year austerity drive and a re-negotiation of Greece’s bailout program with international creditors, including the EU and the IMF. Opinion polls have shown Syriza in steady lead over the ruling conservative party, New Democracy, led by Prime Minister Antonis Samaras.

Greece has been relying on international rescue loans since 2010. It has received 240 billion euros (330 billion dollars) in international loans. In exchange, Athens has implemented harsh austerity measures.

Greeks have lost about a third of their disposable income since the debt crisis erupted in 2009. The unemployment rate has also soared, leaving more about one in four without a job.