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Greece Crisis: Greece’s Demand Last 90 to 120 Billion Estimated:

  

Greece Crisis: Greece’s Demand Last 90 to 120 Billion Estimated

Schäuble had earlier in the budget committee of parliament defended his push for a smooth restructuring, would benefit from a deferral of Greece’s total debt of more than €330 billion. Adds that only a fair burden-sharing between the public and the private side of the country cover the financing needs permanently. Schäuble said he was confident that the skeptical euro partners go along with France at the end.

Greece Crisis

The financial needs of Greece was most recently estimated at €90 billion to €120 billion by 2014. That does not mean that a second rescue package is put together on this scale. It is hoped also to proceeds from privatization of state assets, to the contributions of private donors.

In addition, outstanding support payments come from the first rescue package of €110 billion. The next tranche of €12 billion from the International Monetary Fund and European partners, is due in July. This requires, however, a financing gap. On a second set to the euro finance ministers on 20 June advise.

Schäuble plans as part of a second aid package for a moratorium, whereby private sponsors should be attracted to longer durations of Greek bonds. On an exchange into new bonds will be an extension of outstanding debts reached about seven years.



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