Merkel confirms details of potential Greece bailout will not be decided until mid-2014

German chancellor Angela Merkel has confirmed that any decision on the details of a potential third bailout for Greece will not be made before the middle of next year.

Speaking to SAT.1 television, she said she could not say today what amount Greece would evenutually need – echoing earlier comments made by her spokesman Steffen Seibert and finance ministry spokesman Martin Kotthaus.

She added that the source of the funding is still open.

The German government has set a cap on the amount of aid it is willing to provide the Eurozone for bailouts at €310bn (£265bn). Finance minister Wolfgang Schauble recently reported that Germany's liability share of Eurozone bailouts so far is €95.3bn, or 30 per cent of the total - but other sources put the figure much higher.