21 Aug 2013
Greece's third bailout talks continue
FXstreet.com (Córdoba) - A day after German Finance Minister Wolfgang Schaeuble said Greece would need more financial aid, a German newspaper reported that a third bailout could be financed directly from European Union funds rather than by loans from euro zone governments.
The plan will reportedly be partially financed through the EU budget, along with EU structural funds aid. The paper cites people close to the German government as saying that the size of a third program would be smaller than the previous two (totaling EUR246 bln) and the conditions would also be less strict since the Greek government has already complied with many of the requirements.
The report came a day after Schaeuble made an unexpected admission that Greece will need a third bailout. "There will have to be another programme in Greece," said Schaeuble, addressing a campaign audience in northern Germany on Tuesday. However he maintained that, despite this, there would be no further debt haircut for Athens.
Meanwhile, Joerg Asmussen, a member of the European Central Bank’s executive board, was to meet Greece’ prime minister, finance minister and central bank governor, and to have talks with Greek business leaders on Wednesday.
The plan will reportedly be partially financed through the EU budget, along with EU structural funds aid. The paper cites people close to the German government as saying that the size of a third program would be smaller than the previous two (totaling EUR246 bln) and the conditions would also be less strict since the Greek government has already complied with many of the requirements.
The report came a day after Schaeuble made an unexpected admission that Greece will need a third bailout. "There will have to be another programme in Greece," said Schaeuble, addressing a campaign audience in northern Germany on Tuesday. However he maintained that, despite this, there would be no further debt haircut for Athens.
Meanwhile, Joerg Asmussen, a member of the European Central Bank’s executive board, was to meet Greece’ prime minister, finance minister and central bank governor, and to have talks with Greek business leaders on Wednesday.