BERLIN (MNI) - German Vice Chancellor and Foreign Minister Guido Westerwelle on Tuesday said he believes the Greek budget reform plan will succeed, but he cautioned that nobody really knows how the situation of the fiscally troubled country will evolve.

"Being fully aware of all risks, I bet that the Greek government will succeed," Westerwelle said at a public meeting of the German parliamentary committee on European affairs. "I support them" and wish them success, he said, adding that it is in the interest of Germany that Greece regain the confidence of investors.

"There is no question that the stability of the euro is a key matter for the whole eurozone and especially Germany," Westerwelle remarked. "One should give Greece a chance" to carry out its budget consolidation plan, he said.

Still, Westerwelle acknowledged that "nobody knows what will be next week [or] next month." Success will hinge on the ability of Greece to regain confidence, he argued, adding that "Germany has a massive interest in that confidence coming about."

Westerwelle noted that in recent talks with Greek President Karolos Papoulias and Prime Minister George Papandreou he got the impression Greece has now understood that "it is close to the edge." All Greek parties except for the communists seem to support the consolidation efforts, Westerwelle noted. The country will be able to assure its financing only if can manage to regain confidence in markets, he said.

The Vice-Chancellor noted that other eurozone countries also face fiscal problems but he declined to name them countries, expressing a desire not to unsettle markets.

Westerwelle rejected calls for a special EU financial controller to watch over Greece, arguing that such a discussion would further undermine confidence in the country.