Tuesday, 13 August 2013

Greece to need more bailout loans by start of 2014: Germany's central bank

'According to the report published by prominent German magazine Der Spiegel earlier this week, the document from the Bundesbank indicated that the cash-strapped Mediterranean country will need more bailout loans from the so-called troika of international lenders -- the European Union (EU), the European Central Bank (ECB), and the International Monetary Fund (IMF) by the start of 2014.
The German magazine dubbed the document a Bundesbank report prepared for the IMF and German finance ministry. Greece has been dependent on bailout funds from international rescue loans approved by the troika of international creditors since May 2010.'