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Another Greek Bailout?


Just as things were starting to look better across the Eurozone, a bit of unwelcome news reared its head from the south: Greece appears to not be done with getting bailed out quite yet. Greek finance minister Yannis Stournas piped up over the weekend, indicating that the his country may possibly need a teensy, weensy bit more money:

“If there is need for further support to Greece, it will be in the order of about 10bn euros (£8.6bn; $13.4bn), or much smaller than the previous programmes.”

Mr. Stournas was quite clear that this did not mean that Greece was prepared to take any further austerity measures in return:

“We are not talking about a new bailout but an economic support package without new [austerity] terms… until 2016, the targets – our obligations – have been set and other measures or targets cannot be required.”

Angela Merkel would certainly have preferred for this discussion to wait until after the election. But clearly it won’t. It’s funny how these crises seem to happen at the most inopportune times…

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  • Pete

    It will never end.

    The nut of the problem is that Greece wants a Western European lifestyle without being able to earn it.

    Until that conflict is solved, the Greeks will have their hands out.

  • ljgude

    Greece again? That’s soooo last year. 😉

  • Jim__L

    Instead of a “bailout” it is an “economic support package”.

    “Euphemism” is derived from Greek, is it not?

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