Greece Needs New 3rd Bail-Out, Leaders Told !
- There is no bailout of Greece. Calling it a ‘bailout’ is a deliberate misnomer to deceive the sheeple. It is simply the financial rape of Greece by Illuminist banksters!
Greece needs new bail-out, leaders told !
By Louise Armitstead, http://www.telegraph.co.uk/
European finance ministers gathered in Brussels to approve the release of a €130bn (£109.3bn) bail-out for Greece – amid growing warnings that the rescue package is already inadequate.
Wolfgang Schaeuble, Germany’s finance minister, admitted “nobody can rule out” that Athens would need yet another rescue fund while economists warned that the terms of the current bail-out would crush growth in Greece.
Holger Schmieding, chief economist at Berenberg Bank said: “The debt-swap deal does not solve the problems of Greece at all. Of course, without it, Greece would be in huge trouble. But Greece’s problem is that it has to return to growth. Otherwise, no debt burden is sustainable.”
Michael Hewson of CMC Markets: “There is widespread acknowledgment that even after last weeks debt swap that the country will in all probability need a third bailout, after economic data Friday showed that the economy shrank even more than first thought in fourth quarter, by 7.5pc.”
In Germany lawyers said they were preparing a class action on behalf of 110 investors who want to sue banks for advising them to buy Greek debt. Bondmarket investors ignored political claims that the Greek crisis was solved: new Greek government bonds remained the highest yielding debt in the eurozone.
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