Germany: FinMin Schaeuble praises Spain for obeying euro-zone rules

German Finance Minister Wolfgang Schaeuble held a press conference with Spanish Economy Minister Luis de Guindos in Berlin, Tuesday to discuss the European and Spanish economies. Schaeuble praised what he termed something "extraordinary," namely that Spain "did what they agreed" regarding the spending cuts imposed by the Troika. "This is so hard in Europe that it's almost exceptional," he said. He also warned certain member states of "making excuses" in order to not "do what they promised." De Guindos meanwhile stated that after the third Memoranudm of Understanding, Greece has to fulfill the rules if they want to remain within the Eurozone, and expressed his belief that whoever forms the next Greek government after the elections in September, "knows this."