German Finance Minister Wolfgang Schaeuble has urged Greece not to leave its current austerity path, arguing that reforms are needed even if the country were to leave the eurozone.Greece

“Being a member of the eurozone or not, Greece has to endure major structural reforms to become competitive,” he has said Davos.

“We don’t model any exit,” he said, rejecting media reports that the Berlin government has drawn up scenarios should Greece leave the European common currency.

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