Eurogroup head outlines third bailout for Greek government

EUROGROUP president Jeroen Dijsselbloem admitted yesterday that Greece’s financial troubles will not end in 2014, and that another bailout is realistic.

The head of the euro area’s finance ministers spoke to the European Parliament: “It is realistic to assume that additional support will be needed beyond the programme. In this context, the Eurogroup has indicated clearly that it is committed to providing adequate support to Greece for the current programme and beyond”.

Greek finance minister Yannis Stournaras has recently suggested that a third bailout might run to around €10bn (£8.46bn). Stournaras has also said that Greece will not return to bond markets to borrow until the government posts a budget surplus, and the economy returns to growth.