Euro Leaders Getting Prepared for Third Greece Bailout
Despite receiving two bailouts of nearly _240bn, Greece is not able to make its economy competitive and stabilize the job markets. The structural reforms have not been able to better the economic plight of the country.
Germany's finance minister, Wolfgang Schaueble, said on Monday that there are very strong chances that Greece will need more money to boost its economy. Dutch finance Chief Jeroen Dijsselbloem agreed with him and said that the problems in Greece are unlikely to get solved in 2014. So, there is a need for something more.
Mr. Dijsselbloem is also president of the Eurogroup of Eurozone finance chiefs. Accordihng to analysts, Greece needs about another _14bn, which is comparatively a smaller sum.
Mr. Dijsselbloem said there is no certainty when it will stop, but they are prepared for third bailout for Greece. And it may not be the last.
Greece is due to exit the bailout programme at the end of 2014. Several comments were being made throughout the week about future need for third bailout to provide financial assistance to the Hellenic Republic.
European Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn said that it would be wise to first wait for the results of the Troika's next review of Greece's progress on reforms.
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