Greece Requires 3rd Aid Package – Germany

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 programme 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.

In Athens, a Greek finance ministry official told Reuters a new bailout would focus on plugging an expected funding shortfall over 2014-2016.

“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.

CNBC

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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze

centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu