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GreekReporter.comGreecePapandreou Claims Greece May Need New Aid Package

Papandreou Claims Greece May Need New Aid Package

Greece had a one year time sentence to return to the markets, otherwise it would need a new aid package from the IMF/EU/ECB-Troika. This is the message Prime Minister George Papandreou has reportedly conveyed to German Chancellor Angela Merkel during their talks last Tuesday in Berlin, according to Sunday newspaper To Vima.
“If you don’t take steps to strengthen the support mechanism, we will need another package” Papandreou told Merkel.
Germany refuses to proceed to measures only for the solution of the Greek problem, favoring a comprehensive solution instead.
Athens considers that the delay in the solution to the European crisis, removes the possibility to raise capital form the markets.
With the markets closed, the € 57 billion remaining from the bailout package of 110 billion euro, is sufficient to meet the borrowing needs of the country in 2011 and part of the following year.
Angela Merkel’s reaction to Papandreou’s demand has been apparently to transfer the dilemma back to the Greek side, demanding full compliance, To Vima stressed.

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