Schaeuble: The best season for tourism followed wage cuts

His confidence in the Prime Minister, Antonis Samaras, and the Finance Minister Yannis Stournaras on the results achieved so far, expressed Wolfgang Schaeuble, shortfly before his departure from Washington D.C., where he participated in the spring IMF and World Bank meeting.

Meanwhile, the German FinMin urged Mr. Samaras to continue on the same course and expressed his  hope that he will have the majority of Greeks' support.

The German government's powerful man stated that he is "happy that Greece has returned to markets", but also warned that the country cannot be complacent: "It was the first real test for Greece, and the reaction of the markets was very positive. Your country will gradually gain access to international markets. It will take time, but the main danger here is complacency. Both Greece and Europe must continue in the right direction they are already moving in".

The German FinMin optimistically cited tourism as an example.

"Greece has beautiful islands and coasts, but two years ago, its tourism was a disaster. The country was very expensive and everyone visiting the Eastern Mediterranean ended up in Turkey. However, last year, following wage cuts, it was the best year for Tourism in Greece for decades. The key was structural reforms and the regaining of competitiveness. Of course, this must be done in a politically acceptable way. That is democracy. That is why we seek the right balance. But I am optimistic that the results of the next elections both in Europe and in Greece, will be encouraging".