Greece Denies Spanish Minister Claims of Third Bailout Talks

Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain’s economy minister said on Monday, but EU officials said there were no such talks.

Speaking at an event in Pamplona, northern Spain, Economy Minister Luis de Guindos said the new rescue plan would set more flexible conditions for Greece, which had no alternative other than European support.

But the spokeswoman for Jeroen Dijsselbloem, who chairs the euro zone finance ministers’ group, said there was no discussion of a third bailout and senior euro zone officials concurred.

 
“Euro zone finance ministers are not discussing a third bailout,” spokeswoman Simone Boitelle said.

Greek leftist Prime Minister Alexis Tsipras used a televised address on Friday to deny his country would need another international program.

Greece has acute and immediate funding problems to overcome, despite the four-month extension to its existing bailout it negotiated with the euro zone last month. To win that, Tsipras had to give up on key pledges made during his election campaign.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza