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EUROGROUP HEAD: It’s Safe To Assume Greece Will Need Another Bailout

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ROBIN EMMOTT AND JAN STRUPCZEWSKI
Reuters
September 5, 2013

BRUSSELS (Reuters) – Greece’s financial troubles will not end in 2014 and it is therefore realistic to expect the debt-laden country will need additional money from the euro zone before it can return to markets, the head of euro zone finance ministers said.

International lenders estimate that Greece will need around 10-11 billion euros ($13.1-14.4 billion) from the second half of 2014 to keep it going next year and in 2015.

But several euro zone governments are reluctant to extend any further loans because of negative public opinion, with voters tired of bailing out other countries after three years of the sovereign debt crisis.

“As far as the potential need for a third program for Greece is concerned, it’s clear that despite recent progress, Greece’s troubles will not have been completely resolved by 2014,” Jeroen Dijsselbloem told the European Parliament.

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This article was posted: Thursday, September 5, 2013 at 5:10 am





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