Greece 'Might Need EUR 6 B More' Than Third Bailout

Greece might need a total of EUR 92 B to cover its financial needs, a document issued by the German Finance Ministry suggests.

This is some EUR 6 B more than the third bailout package international lenders are due to grant Athens as the country is still seeking to deal with its debt crisis and the impact on its economy.

According to German daily Süddeutsche Zeitung, the document argues that projected revenues Athens is to generate from future privatization deals, amounting to EUR 50 B over the next 5 years, have been written up by some EUR 6.2 B.

The bailout package should have been EUR 92 B, the daily notes.

This comes just before a vote is due on Wednesday in the German Parliament on whether to approve the latest bailout deal Athens struck with international lenders.

Both the Eurogroup and Parliament in Athens gave the green light to the deal last week.