FXStreet (Mumbai) - Speaking for a German media, Finance Minister Wolfgang Schaeuble said that there were no guarantees that Greece would adopt reforms during the four-month loan extension period granted by international lenders ten days ago.

Key Quotes:

"But I hope they do it in the interests of Greece and also out of responsibility for Europe. But mainly in their own interests. Greece really needs to know that if it wants aid, it needs to keep the agreements it has made,"

"If (the finance minister) doesn't make the first payment on time, that's a so-called default and I wouldn't want to be in his shoes bearing responsibility for what would then happen to Greece."

"if that's not the case then it won't be paid. That lies solely in the hands of those in positions of responsibility in Athens."