Debt-wracked
Greece will probably need another EU bailout of tens of billions of
euros after its elections, a German weekly newspaper said on Wednesday,
citing government and financial sources.
"Even if Greece sticks to its reform path, the
country will need fresh money this summer, according to Die Zeit's
information," the paper said, citing a sum "in double figures" of
billions of euros.
"If a state insolvency is to be avoided, then the
Europeans will need to jump in again. The Bundestag (lower house of
parliament) may possibly have to discuss a third Greek package again.
"A double-digit billion euro amount is being discussed," the report added.
A precondition for such a third bailout package would
be that elections result in a government "that commits itself to
further reforms," Die Zeit said.
Greece has been forced to seek international help
twice, first for 110 billion euros in May 2010 and then for 130 billion
euros earlier this year plus a 107-billion-euro private debt write-off.
The country holds an election on Sunday that is being
watched nervously by politicians and markets around the world, amid
fears that the leftist Syriza party, which wants to tear up the bailout
deals, will triumph in the vote.
If the next Greek government - the forming of which
in itself could be a tall order if the results are similar to a first
election on May 6 - reneges on its commitments, the flow of funds will
cease.
This could precipitate the exit of Greece from the eurozone, experts warn.
German Chancellor Angela Merkel has stressed several
times that she wants Greece to stay in the 17-nation eurozone but that
Athens must stick to its commitments.
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