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Greece Needs up to 10.5 Billion Euros, Finance Minister Says
Published in Saudi Press Agency on 04 - 09 - 2013

Greek Finance Minister Yannis Stournaras on Wednesday said the country will need between 10-10.5 billion euros (13.1-13.8 billion dollars) in additional funds to help plug a gap in its finances next year, dpa reported.
Speaking on private television Skai, Stournaras said a funding gap foreseen for 2014, which is expected to reach 10.5 billion euros would be covered, either through a return to the markets or a new loan.
He said Greece will embark on a new round of negotiations with its international creditors - the European Commission, the European Central Bank and the International Monetary Fund (IMF) - after a primary surplus is achieved later this year.
"Real negotiations will be launched after we achieve a primary surplus this year," said Stournaras, adding that while the country was on the right track, "Greece had to stick to its adjustment programme."
The admission by the finance minister comes as Germany's headed into the last weeks of the campaign for its September 22 parliamentary election.
Aid for Athens is a particularly sensitive issue in Germany, where taxpayers are likely to have to foot a large part of the bill for any further assistance for Greece.
Last month German Finance Minister Wolfgang Schaeuble whipped up a political storm in Germany when he warned that Greece would need a third bailout to top the about 250 billion euros it has already received in aid.
-- SPA
16:50 LOCAL TIME 13:50 GMT
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