Germany’s finance minister admitted for the first time on Tuesday that Greece would need a third aid package, as a source in Athens said the sums involved in any new deal would be far smaller than previous rescues.
“There will have to be another program in Greece,” Wolfgang Schaeuble told a campaign audience in northern Germany, in comments that raised prospect of a step that could be deeply unpopular domestically just five weeks before national elections.
“Greece and its lenders are examining several ways to plug any funding gap that Greece will face over the next few years,” the official said on condition of anonymity.
The measures included using leftover funds from a bank bailout programme and previously discussed debt support measures, the official said.
In Frankfurt, the European Central Bank said Executive Board member Joerg Asmussen would visit Greece on Wednesday to discuss progress on reforms needed to ensure more bailout money.
Read more: Greece will need third bailout, German finance minister says - The Globe and Mail
“There will have to be another program in Greece,” Wolfgang Schaeuble told a campaign audience in northern Germany, in comments that raised prospect of a step that could be deeply unpopular domestically just five weeks before national elections.
“Greece and its lenders are examining several ways to plug any funding gap that Greece will face over the next few years,” the official said on condition of anonymity.
The measures included using leftover funds from a bank bailout programme and previously discussed debt support measures, the official said.
In Frankfurt, the European Central Bank said Executive Board member Joerg Asmussen would visit Greece on Wednesday to discuss progress on reforms needed to ensure more bailout money.
Read more: Greece will need third bailout, German finance minister says - The Globe and Mail
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