German Finance minister Wolfgang Schaeuble said financial markets are currently testing whether the Euro zone will survive but he insisted the 16-nation monetary union won't break up. However he also warned about the risk of the emergence of an anti-Euro party.
European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.
Greece will not get its multi-billion Euro aid package until it commits to bigger economic sacrifices, Germany’s finance minister warned over the weekend.