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Greece needs €10B in extra aid: Stournaras

  • "Greece may need a further €10B in extra support from its eurozone partners but would not expect any loan to come with conditions attached," Reuters says, citing comments made by Yannis Stournaras to Proto Thema.
  • Stournaras, Greece's finance minister, is attempting to put a positive spin on the new aid which will help the country fill a 2014-2015 funding gap.
  • It's not a bailout, but rather an "economic support package" and will come "without new terms," Stournaras says, adding that "other [austerity] measures or targets cannot be required."
Comments (8)
  • Ted Bear
    , contributor
    Comments (575) | Send Message
    Well, there's shocker!


    It hasn't been that long since Greece tried to do the right thing, but Turbo Timmy came screaming in and started Europe on the path to borrow more, if you can't pay what you have borrowed already.


    The Greek citizens are just laughing at the world now, while the politicians are still 'promising' to repay the debts. As long as the world is giving, is there any reason not to take?
    25 Aug 2013, 07:12 PM Reply Like
  • june1234
    , contributor
    Comments (2502) | Send Message
    can in borrow $100 to pay you back the $100 I owe you? see you next month
    25 Aug 2013, 08:08 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1812) | Send Message
    HaHaHa!!! I thought deficits didnt matter?
    25 Aug 2013, 08:14 PM Reply Like
  • Deja Vu
    , contributor
    Comments (1155) | Send Message
    This will go on until inflation starts rising in Europe and no one will accept the worthless euros being printed like water by the ECB. I'm sure the ECB is not being fully transparent about what is actually on their balance sheet. They are offering guarantees to banks and zero interest financing to enable various banks to hold the useless sovereign bonds on the banks balance sheet.


    Essentially a whole lot of bailed out banks are now acting as fronts/Special Investment Vehicles for the ECB to buy sovereign bonds by proxy. One day the truth will come out that all of Europe France, Greece, Ireland, Italy, Portugal, etc etc are not actually selling bonds on the open market, but in a kabuki charade financed by money printing of the ECB.


    That's the day Europe will collapse.
    25 Aug 2013, 09:35 PM Reply Like
  • CautiousInvestor
    , contributor
    Comments (3017) | Send Message
    Golly gee, what a shocker. They have not liberalized labor markets, have not reformed product/service cartels, trimmed massive bureaucracies, eliminated systemic corruption or sold off state owned assets. All of this notwithstanding, they are meeting their targets. Not

    25 Aug 2013, 09:53 PM Reply Like
  • Tack
    , contributor
    Comments (12770) | Send Message
    Just to put this in perspective, the U.S. Government spends $10 billion is just over 24 hours. Just the governments of the top four EU countries (Germany, UK, France, Italy) spend $10 billion in 17 hours.


    They could give Greece $10 billion once a month in perpetuity and hardly know it.
    25 Aug 2013, 10:00 PM Reply Like
  • KJP712
    , contributor
    Comments (437) | Send Message
    Greece will be gone soon from the European Union.Sometime after the German elections in September.The time to reform has run it's course.
    25 Aug 2013, 10:52 PM Reply Like
  • Bouchart
    , contributor
    Comments (755) | Send Message
    This is comedy. All the Eurozone needs right now is one big pie fight.
    25 Aug 2013, 10:53 PM Reply Like
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