twice this week, wolfgang schauble has called reset bottomless pit. he is questioning parliament's promise of reforms. in a radio interview he said, even now i am not sure that everyone in greece pose a political parties is aware of the responsibilities they bear for the situation the country is in. the greek president reacted angrily. as agreed, he said, i do not accept wolfgang schauble insulting my country. who is he to insult my country? many greeks say the austerity measures demanded by the eu are too much, too soon. >> they should give us some time, you see. it is not very easy to change things for monday to the other. it is impossible. the people have a very hard time here. >> the greeks say they have taken their medicine. now they want europe to deliver the second bailout. >> all right, let's get our correspondent nina. she is on the story in brussels. what are you hearing there? two other eurozone countries a truly trust that greece will the with the promises when it comes to cutting spending in the budget? >> well, it is true that we have he

actually wolfgang schauble cording to this article he was actually quoted caught on tape anyway talking to a portuguese finance minister in which he said to the portuguese minister don't worry we're not going to do this to you this our treatment of greece is in order to appease our population at home right exactly this is amazing it's coming through now that the policy makers in germany that are applying their scorched earth policy to grace are doing so to appease their local constituents who want blood for some reason they're just bloodthirsty which then brings up all kinds of other questions about who is this to germany of all is this to germany we remember from world war i want to know is this the imperial genie out of the bottle once again. simplified transparent and more competitive elections the purpose behind a new parliamentary bill introduced by president medvedev the draft proposal envisions an election process with less bureaucracy and more representation that will also take into account the country's vocal online community our correspondent peter all over has more on the pro

the terms of the bailout after elections also adding insult to injury german finance minister wolfgang schauble said in a radio interview that nothing short of a techno craddick government like that of monti's in italy may be required to stem the crisis in greece great politicians are going along with creditors did.

more germany's finance minister wolfgang schauble it has declared that promises aren't enough anymore saying that greece will have to implement reforms to prove it's not a bottomless pit but investment advisor young says whatever happens in greece there's no saving it from a collapse that will be felt across europe. in every possible respect greek greece is not a tragedy and it is due and the reason for that is simply because the reason no way that they are going to be able to implement whatever austerity they're talking about against such a backlash of public opinion whatever happens there the problem for the rest of the euro zone is that not only we have to basically be prepared to defend the whole integrity of the euro and actually if you read what's been said behind the behind closed doors you can see there's a spirit that you know what we may have to do three so we may even have to end up ditching portugal from the euro zone but we're we have to defend is italy and that's really going to fall on the shoulders of the technocrat mario monti government and this is going to be our ho

actually wolfgang schauble cording to this article he was actually quoted caught on tape anyway talking to a portuguese finance minister in which he said to the portuguese minister don't worry we're not going to do this to you this our treatment of greece is in order to appease our population at home right exactly this is amazing it's coming through now that the policy makers in germany that are applying their scorched earth policy to greece are doing so to appease their local constituents who want blood for some reason they're just bloodthirsty which then brings up all kinds of other questions about who is this to germany of all is this to germany we remember from world war i want to know is this the imperial genie out of the bottle once again.

well actually wolfgang schauble cording to this article he was actually quoted caught on tape anyway talking to a portuguese finance minister in which he said to the portuguese minister don't worry we're not going to do this to you this our treatment of greece's in order to appease our population at home right exactly this is amazing it's coming through now that the policy makers in germany that are applying this scorched earth policy to greece are doing so to appease their local constituents who want blood for some reason they're just bloodthirsty which then brings up all kinds of other questions about is this the germany of old is this to germany we remember from world war i wanted to is this the imperial genie out of the bottle once again. israel wants washington to run a tougher sanctions before its nuclear program reaches wants is described as a point of no return it came in response to tehran's demonstration that its atomic project is progressing iran says it's willing to restart its nuclear talks with world powers and the financing it down to mystically produce nuclear fuel ro

for the greek people potter heads are speaking up one being this guy german finance minister wolfgang schauble you see when we're talking about bailouts for greece i should say bailouts for banks years have invested in greece no want to lose their money we're essentially talking about german as primarily who's footing the bill for these bailouts along with the nordic nations and shargel the german defense or finance minister is getting fed up after all it's his job to make sure that the german money is invested wisely and shovelled doesn't see greece with its capital city of athens on fire suicide rates skyrocketing and unemployment at twenty percent as a wise investment so before folks forking over the money szabo is making some outrageous demands of greece the main one being the greece should postpone their elections so a new government will come to power that may do it iceland has done in two citizen referendums say hello to the banks toure's including the german banks there's a think about that for a second here's one sovereign nation in europe germany trying to prevent another sovereign e

the terms of the bailout after elections also adding insult to injury german finance minister wolfgang schauble said.

well actually wolfgang schauble cording to this article he was actually quoted caught on tape anyway talking to a portuguese finance minister and which he said to the portuguese minister don't worry we're not going to do this to you this is our treatment of greece's in order to appease our population at home right exactly this is amazing it's coming through now that the policy makers in germany that are applying the scorched earth policy to greece are doing so to appease their local constituents who want blood for some reason they're just bloodthirsty which then brings up all kinds of other questions about who is the germany of old is this to germany we remember from world war one and two is this the imperial genie out of the bottle once again each failure is a scribe to lack of moral fiber not the design flaws in the currency project that shall bill himself helped create and forced on the german people against their wishes belief that e.m. you fall out from greek exit or great in market slang can be contained by far walls and more fiscal austerity assumes that greece is a special ca

we've seen just to use the example of greece we've seen recently germany's finance minister wolfgang schauble a say maybe greece should postpone elections maybe we should put in an entire technocratic government like we have in italy you've said we've seen how the banking system has not wanted to take write downs has not wanted to mark to market when it's not convenient for them and we see how democracy is being suspended when it's not convenient for leaders either so where do you think that trend is really going are we going to see a continuation of this tech not prosy and suspension of democracy. well it will continue as long as the pipe with allows it sooner or later you have a vote if you notice in europe which is prone to war if you look throughout history go back lest you know it's one thousand years and europe wars they go at war with itself over the last. fifteen or twenty years or so you've had relative peace in europe and that happened to coincide with a significant credit bubble a significant real estate bubble as well as the four implementation of the monetary union and the euro o

the terms of the bailout after elections also adding insult to injury german finance minister wolfgang schauble said in a radio interview that nothing short of a techno craddick government like that of monti's in italy may be required to stem the crisis in greece great politicians are going along with creditors demands even though mobs are literally gathering at their doors look at this outside former prime minister close to submit his house on sunday. ok. this guy. they were calling him a traitor other names too meanwhile look at this greek national poll conducted this month it shows the influence of various political parties in greece we want to focus on that three percent it may not look like a lot but that is a far right political party extreme nationalist party they don't have members in parliament yet but three percent is the threshold reportedly at which parties can begin to place their own members in parliament so are people moving to more radical parties because the others aren't listening to them this is how we saw the rise of fascism prior to world war two in europe i asked m.e.p. ni

granted to debt servicing payments at their predators get paid before anybody else we've heard wolfgang schauble talk about how greece should postpone its elections perhaps and maybe a technocratic government needs to be imposed we heard that recently dimitri has an interesting idea about where this could be headed and why so so this is this this could might sound like improbable but if you think about it one hundred years ago in the us we took away markets determining interest rates and we gave it central banks and people just got comfort with that idea and that people just think it's crazy that the market would determine the interest rate that it would price it it's normal you know the normal people think and the fed that's crazy the market said the interest rate that's crazy not our gas right means that the mainstream conventional wisdom so all these years we've also been used to the idea that the markets or individuals price elections through their votes but now we've got technocrats in greece we have a technocrat in greece of a technocrat in italy and they've suspended elections and i think

trying to have a little bit too much control right because greece also has elections coming up wolfgang schauble said that maybe we should just postpone the elections for now and wait until we can make sure that the wrong party or the wrong leader is aren't there that we haven't chosen the wrong democracy which is let a few people to say well you know this is really interesting because it almost seems like greece will be the first colony of the euro zone what do you think it will i mean i think that at the end of the day what by the time that greece does default they're going to just be treated like any other emerging market country that defaults in the way that the i.m.f. goes in and basically takes over and tells your country how to. i think that's where they're going eventually and they're just you know if anything this might be sort of like a warm up act for really what's outside control of the greek economy is going to look like i don't think it matters what government you have increased i think what matters is the greek people i don't i don't see greeks taking ownership of their own proble