"It should not have come to this"- The Bundesbank View on the Greek Crisis

Excerpts of Interview with Jens Weidmann, President of the German Central Bank  published in Handelsblatt on 15 May 2015: 

"The situation has escalated significantly over the last few weeks, and the financing problems are clearly increasing further. Only the Greek government knows how much longer its financial resources will last. Greece's future in the euro area is clearly a matter for politicians to decide on.  Yet it is equally obvious that the situation need not have come to this. Unfortunately, a great deal of time has been squandered since the new Greek government came into office."

..."is well aware of the problem of the unhealthy interdependence between the banks and the government in Greece. This is demonstrated, not least, by the regular discussions about prolonging the emergency loans. Granting loans to banks which are cut off from the markets and which use these loans to finance their own government's bonds is, ... out of order given the ban on the monetary financing of governments"

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