Wednesday, March 4, 2015

Euro zone version of Spain ruled on discussions third … – Reuters

By Andres Gonzalez and Philip Blenkinsop

BARCELONA / BRUSSELS (Reuters) – Germany and the European Commission said it is premature to talk of a third bailout for Greece, after Spain again suggested Wednesday that it is almost inevitable a new aid package for Athens.

Greece, which says that there is no new aid program, avoided Wednesday a new crisis to raise more than 1,000 million euros in short-term debt, but its long-term funding seems increasingly uncertain.

The country an extension of four months assured his rescue program until the end of June, but still out of debt markets and the new leftist government has angered its partners in the euro area with its rhetoric against the bailout.

For the second time this week, the Spanish Economy Minister Luis de Guindos said that Athens will not be able to return to the capital markets for June and you might need a package of between 30,000 and 50,000 million euros (33,000 to 56,000 million).

“These four months (extension of the current program help) us we have given them to see what the real situation and begin to establish what has to be the day after (…) which is a third bailout, “de Guindos said at an event in Barcelona.

“Next week we (meeting) Eurogroup there we expose what were the first contacts hopefully that occurred with the European authorities, formerly called Troika “he said.

His comments were rejected quickly by German Chancellor Angela Merkel, who said he is focusing on the current rescue.

“I think now we have to make this work, and I’m concentrating on that,” Merkel said when asked about a third rescue at a press conference in Brussels with the President of the European Commission, Jean-Claude Juncker. Continued …

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