Socio-Economics History Blog

Socio-Economics & History Commentary

Greek PM Does Not Rule Out New 3rd Bailout Package!

  • Bailout? What bailout? It is the financial rape of the Greek sheeple by the Illuminist banksters! All the monies are going to the Illuminist banks and not the Greek public!
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    Greek PM does not rule out new bailout package! 
    MILAN (Reuters) – Prime Minister Lucas Papademos said on Friday Greece may need a third bailout package if the sweeping austerity measures demanded by its international creditors fail to stabilise its shattered economy and restore market confidence.
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    It was the first time Papademos publicly confronted his people with the risk, already mooted by wary EU, IMF and German officials, that the austerity programme might fall through if they don’t try hard enough. His remarks were seen as an encouragement to support pro-bailout parties in a snap election expected on May 6.
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    “Greece will do everything possible to make a third adjustment programme unnecessary,” Papademos told Italian business daily Il Sole 24 Ore, according to a transcript of his remarks. “Having said that, markets may not be accessible by Greece even if it has implemented fully all measures agreed on.
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    “It cannot be excluded that some financial support may be necessary, but we must try hard to avoid such an outcome.” Greece secured a 130 billion euro bailout from the International Monetary Fund and the European Union last month after it won agreement from private sector creditors to take part in the biggest debt restructuring in history.
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    But with its economy in the fifth year of deep recession, scepticism about the effectiveness of government reform measures and deep public resistance to further doses of austerity, there have been widespread expectations that more aid will be needed.
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    According to an analysis from the IMF, the EU and European Central Bank, even if Greece sticks to its agreed reform programme to 2030, it may need more support after 2014.
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    … for more click here!

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April 2, 2012 - Posted by | Economics | , , , , , , , , ,

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