October 31, 2014
Germany's Finance Minister: 'Argentina an example of lack of solidity'
Germany’s Finance Minister Wolfgang Schäuble slammed Argentina’s stance against its holdout creditors saying it has been -and continues to be- “an example of lack of solidity.”
The official in charge of the finances of the first European economy stressed that in Argentina the holdouts are insulted and called “vultures”, “but Argentina caused the problem, not the funds,” the official said in Berlin. He also criticised Buenos Aires’ attacks against the International Monetary Fund.
“Argentina has lived for decades beyond its means, it does not pay its debts and that is why it is isolated from international payments,” he added. “Problems arise when you spend more than you earn,” Schäuble stated.