Greece denies reports it will need a third bailout package

 
City A.M. Reporter
GREECE’S finance minister yesterday denied a report citing the country’s representative to the IMF as saying Athens would need a third bailout package.

The euro weakened against the dollar on the report, which was later also denied by the official quoted in the article and came as international inspectors are mulling handing over the next tranche of Greece’s second aid package.

“The country’s positions are formulated by the Prime Minister and the finance minister,” said Greek finance minister Yannis Stournaras in response to a Dow Jones/Wall Street Journal report.

The article quoted Thanos Catsambas, alternate executive director at the IMF executive board representing Greece, as saying the country would need a third bailout from European creditors. It also reported Greece could not bridge a funding gap and had met only 22 per cent of targets for the second bailout.

The euro fell to a session low of $1.2881, with traders citing the report of Greece needing a third bailout, and was last at $1.2898.

Catsambas issued a statement saying the article included “at least three important inaccuracies”.