Bigger bailout
Source: Agencies |
February 3, 2012, Friday
|
Print Edition
Print Edition
GREECE'S international debt inspectors have discovered that the debt-ridden country still needs an extra 15 billion euros (US$20 billion) in help - on top of a promised 130-billion-euro bailout and a 100-billion-euro debt relief from private investors, a European official said yesterday.
The European Commission, the executive arm of the European Union, has asked the rest of the 17-country eurozone to help foot the bill for the missing 15 billion euros, the official said, indicating that a limit has been reached of what can be achieved by Athens implementing further spending cuts and private investors taking losses on their Greek bonds.
The European Commission, the executive arm of the European Union, has asked the rest of the 17-country eurozone to help foot the bill for the missing 15 billion euros, the official said, indicating that a limit has been reached of what can be achieved by Athens implementing further spending cuts and private investors taking losses on their Greek bonds.
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