Germany 'expressly welcomes' Greek austerity deal

Germany praised the sealing of an austerity pact on Greece, saying it showed the determination to take difficult decisions to get Greece on track of an economic recovery. Greece's parliament agreed last night on a raft of unpopular reforms in a bid to secure international aid.

"We expressly welcome the decision of the Greek parliament in Athens. These decisions show the will of the Greeks to take difficult measures to put the country on a good path," government spokesman Steffen Seiber remarked.

"These measures ... are not savings for savings' sake, cuts for cuts' sake," added Seibert, the spokesman for Chancellor Angela Merkel.

"They are reforms in all political areas and they are measures that should step-by-step give the country back its financial room for maneuver, which it needs to foster new growth and jobs," he said.

Earlier today, German Economy Minister Philipp Roesler said the vote was "a step in the right direction" but warned: "We are still a long way from the goal."

"We want to see what comes after the legislative process because the legislative process is one thing, implementation is another," stressed Roesler, speaking on ARD public television.