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Athens Macedonian News Agency: News in English, 14-06-01

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] German FinMin Schaeuble: Greece may need more help past 2014

  • [01] German FinMin Schaeuble: Greece may need more help past 2014

    ANA-MPA -- Greece may need additional, limited, help, probably under 10 billion euros, German Finance Minister Wolfgang Schaeuble was reported as saying in an interview for Focus weekly magazine that will hit the German newsstands on Monday.

    According to the interview, Schaeuble said that the second fiscal adjustment programme for Greece, approved in 2012, would last for two years and at its end Greece would not be able to cover its needs fully through the markets. According to assessments by Greece's troika of creditors, the country's debt will reach a viable level by 2022. For this reason, he said, Greece was likely to need limited help once more, provided it continued to fulfill the troika terms. The amount was likely to be a single-digit one, he said.

    Although the German minister acknowledged the heavy burden of the programme on the Greek people, he said the reform process had to continue if the country wanted to remain in the euro.

    Asked whether he believed the eurocrisis is over, he responded that if one referred to market nervousness, the crisis was over. But in terms of the structural problems the eurozone faces, then despite great progress achieved a lot remained to be done, he underlined.


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