Not one, not two bailouts were enough to solve the Greek debt crisis. While German Finance Minister Wolfgang Schaeuble opened the discussion for an additional bailout a couple of weeks ago, a member of the Governing Council of the European Central Bank – one of Greece’s lenders, the Troika – said today, that the debt-ridden country will most likely will need two more additional bailouts and not just one.
the long chain of bailouts for Greece
WSJ/Times: One or Two More’ Greece Bailouts Likely
The Greek economy is recovering slowly but may need another boost, says European Central Bank
Experts from supervising bodies will meet for debt recovery talks in Athens later this month.
“We will have to make some extra efforts — certainly once, perhaps twice”, said Luc Coene, a ECB Governing Council member on Wednesday.
Greece’s economy is seeing “very slow” improvements, he said, following a €200 billion ($265 billion) bailout from eurozone lenders and another €40 billion ($530 billion) package from the International Monetary Fund. But the country’s debt problems no longer pose an immediate threat to the “whole edifice” of the eurozone.
The financial situation is “much better armed” to ward off another crisis, said Coene, who is also the president of Belgium’s National Bank. International experts from the European Commission, European Central Bank and International Monetary Fund will meet in Athens later this month for talks on Greece’s recovery (Time.com)
PS ehm… errrmmmm… shall I wrap it or will you eat it here?
