Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

How strong is Germany’s Greek resolve?

Wednesday, February 11, 2015 - 02:01

Greece's Foreign Minister holds talks with his Russian counterpart in Moscow ahead of a crucial euro zone meeting. Ciara Lee looks at the motives behind the visit and the chances of an early solution to the current crisis .

▲ Hide Transcript

View Transcript

They need a thaw - and not just in Athens. The relationship between Greece and Germany is becoming increasingly frosty. (SOUNDBITE) (Greek) UNIDENTIFIED ATHENS RESIDENT SAYING: "It is difficult, let's hope he will succeed but it's difficult. The Europeans see us in a negative light." Greece's prime minister did succeed in winning a confidence vote in parliament. But persuading euro zone finance ministers to provide a bridging loan while Greece reverses austerity measures is a different matter - especially when Greece's Foreign Minister chose the same day to meet his Russian counterpart. Admiral Markets commentator Darren Sinden SOUNDBITE (English) DARREN SINDEN, MARKET COMMENTATOR, ADMIRAL MARKETS, SAYING: "I think he's being provocative, I think that Greece are trying to use all the negotiating tactics that they can. I think in better times for Russia, they would certainly like to try to help Greece out if nothing else to drive a wedge between the European powers and the mess over the negotiations in Ukraine, but of course Russia has its own fish to fry." It's a finance ministers pow wow in Brussels - Greece's Prime Minister stayed at home offering assurances. (SOUNDBITE)(Greek) PRIME MINISTER ALEXIS TSIPRAS SAYING: "The new government has made a commitment to carry out reforms which the country really needs, to carry out reforms that the previous governments did not dare to carry out. And we can do this because we don't have a dependency on the past." Greek shares fell and bond yields rose ahead of the meeting as Germany's Finance Minister suggested without a reform programme 'that was it'. But few see it being that easy. SOUNDBITE (English) DARREN SINDEN, MARKET COMMENTATOR, ADMIRAL MARKETS, SAYING: "I think we can look at the old adage that if you owe the bank manager £500 that's your problem, but if you owe the bank manager £500,000, that's very much his problem." Who will come out worse in the event of a Grexit - Greece or the rest of the euro zone - could be the deciding factor. And there may not be an answer to that unless it happens.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

How strong is Germany’s Greek resolve?

Wednesday, February 11, 2015 - 02:01