March 4, 2012

Greece rescue comedy: third stage coming!

Der Spiegel announced a third rescue being necessary for Greece.

Billions from the second bailout have not yet arrived in Greece and international inspectors already claim a third payment is required. The Troika believes that another 50 billion euro are needed.

The financial controllers of the EU Commission, European Central Bank and the International Monetary Fund believe a third rescue package for Greece will be necessary. They quantify the amount up to 50 billion €.

It is not guaranteed that the country as planned as early as 2015 could again get their own loans, it said in a recent draft of the Troika report on the situation in Greece. Therefore, the country from 2015 to 2020 may need an "external financing need of up to 50 billion euros."

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