ECB's Asmussen says no plan to review Greek bailout before spring 2014

ATHENS Wed Aug 21, 2013 9:38am EDT

European Central Bank (ECB) executive board member Joerg Asmussen gestures as he speaks the debate ''European Economic Integration: Challenges and Opportunities'' in Vilnius July 18, 2013. REUTERS/Ints Kalnins

European Central Bank (ECB) executive board member Joerg Asmussen gestures as he speaks the debate ''European Economic Integration: Challenges and Opportunities'' in Vilnius July 18, 2013.

Credit: Reuters/Ints Kalnins

ATHENS (Reuters) - The euro zone will consider measures to support Greece as long as it implements its latest bailout but has no plans to review the situation before spring next year, European Central Bank executive board member Joerg Asmussen said on Wednesday.

Asked to comment on the German finance minister's statement that Greece would need a new bailout package, Asmussen said the issue was not discussed at talks with Greek Finance Minister Yannis Stournaras during his visit to Athens.

"We have not discussed this, we have focused on making the current program a success, more growth and jobs," he said.

He declined to be drawn into discussion of a third package, saying he had nothing to add to a Eurogroup decision in November last year that pledged additional assistance to Greece until it regained access to financial markets, as long as it implemented its bailout and generated a primary surplus.

(Reporting by Lefteris Papadimas and George Georgiopoulos, Writing by Deepa Babington)

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Comments (1)
dareconomics wrote:
The mainstream media has lost track of the Greek bailout tally. As we explained yesterday, the next bailout will be the fourth, not the third:

Around the Globe 08.20.2013 .

The German politicians are handling this situation masterfully by telling German voters that there will not be a bailout while simultaneously promising the Greeks debt forgiveness if they stick to the bailout conditions.

Germany has no plans to discuss additional bailouts with Greece until next Spring, by which time it will surely need one. Despite troika and Greek assurances that everything is running smoothly, investors are skittish about something as the benchmark Greek debt yield has risen over 4% in the last two days

Full post with charts, images and links:

http://dareconomics.wordpress.com/2013/08/21/around-the-globe-08-21-2013/ ‎

Aug 21, 2013 12:47pm EDT  --  Report as abuse
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