Wolfgang Schäuble: There will be another Greek crisis

Wolfgang Schäuble: There will be another Greek crisis

German Finance Minister Wolfgang Schaeuble said today that there will be another crisis in relation to Greece.

"I am hopeful that what I said still applies, namely that we will not have a new crisis in Greece and in relation to this," said the German minister, adding that the finance ministers expect to reach an agreement at the meeting Tuesday.

The Schaeuble also said that the high degree of volatility and nervousness seen in financial markets is greater than what economic developments might justify.

"You also know that I believe that the high levels of debt and liquidity tend to amplify the volatility and hence the nervousness," said Schaeuble in Sendai in northern Japan in view of the meeting of finance ministers and central bankers of the G7.