Schaeuble admits need for 3rd Greek aid package

The sums involved would be far smaller than the previous rescues," says German finance minster Schaeuble. The news of continuing aid isn't a surprise, but the domestically unpopular admission comes  just five weeks ahead of national elections in Germany.

German Chancellor Merkel - up in the polls at the moment- has been careful not to agitate voters on this issue. All German officials, however, are in pre-election agreement that there can be no further haircuts on Greek debt.

GREK is off 6.3% YTD.

National Bank of Greece (NBG -1.5%).

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