Troika to decide on third Greek bailout after September scrutiny

EUROPEAN Union economic commissioner Olli Rehn yesterday said that the troika of lenders to Greece will intensify their assessment of the Mediterranean state in September, and decide on any third bailout soon after.

Rehn told journalists that the European Commission, European Central Bank and International Monetary Fund (IMF) needed to “conclude what kind of additional financing needs there are”.

German finance minister Wolfgang Schauble kicked off public discussion of Greece’s potential third bailout last week, when he admitted that the country would need further financial system at a campaign event.

The IMF also appointed a new resident representative to Greece this week, who will start in September. Wes McGrew has worked for the IMF since 2004, including in Macedonia and Cyprus, and replaces Bob Traa, who held the position for three years.