Speaking to the German press Merkel said "the austerity imposed on Athens..." is "necessary to set an example to the entire eurozone.... The question of whether Greece carries out its programme is not just a question of whether the programme succeeds or not, but rather of whether obligations will be observed in Europe in future."
The sentiment was reiterated by Schäuble. The Telegraph reported he said although he has sympathy for the people of Greece that does not mean they don't have to put up with austerity. He said "Things are rarely fair in a crisis ... the little man suffers and the rich feather their own nests. I have really huge sympathy for the man on the street in Greece. But I cannot spare him. It is not easy to cut the minimum wage in Greece, when you think of the many people who own a yacht... If the country wants to become competitive again, it has to sink.”