German Adviser: We Must Help Greece

LONDON—The euro zone must continue to stand by Greece while it carries out a decade of reforms, but should leave Italy and Spain to put their own houses in order, a top economic adviser to the German government said Wednesday.

Wolfgang Franz, chairman of the independent council of economic advisers to the federal government, also said in a telephone interview that the European Central Bank has seriously compromised itself in starting to buy Italian and Spanish bonds and should stop doing so as soon as possible.

“Italy had high interest rates before joining the euro zone and the world didn’t …


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