German Finance Minister Wolfgang Schaeuble gestures during a parliamentary debate on the Greek debt crisis at the German lower house of parliament Bundestag in Berlin, Germany, July 1, 2015. REUTERS/Fabrizio Bensch TPX IMAGES OF THE DAY
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Germany's hardline finance minister Wolfgang Schaeuble Sunday hailed a change in tone in talks with Greece over its next bailout but warned Europe would closely monitor the pace of reforms in Athens.One of Schaeuble's deputies, Jens Spahn, said that he now expects talks on debt relief given the insistence of the International Monetary Fund, one of Greece's key creditors, on measures to bring Athens's debt mountain down to a manageable size.Germany has ruled out erasing any of Greece's debt from the books but has indicated it would be open to giving Athens more time to pay its creditors back if it continues to implement pro-market economic reforms.As Europe's biggest economy and contributor to Greek aid, Germany has a key role in the emergency package approved by eurozone finance ministers worth 86 billion euros ($96 billion).
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