Yannis Stournaras, the Greek finance minister, told German newspaper Handelsblatt on Monday that Greece may seek to ease its debt burden by renegotiating its bailout terms.
The renegotiation could involve lower interest payments and more time to repay 240bn euros in loans.
The BBC reports that on Sunday he admitted that Greece may face a hole in its finances of up to 10bn euros.
As I have noted before, the only real solution for Greece's financial and social woes are for it to leave the Eurozone and devalue its currency.
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2013
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August
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- Greece Wants To Renegotiate Bailout Terms
- Banks Embroiled In Another Mis-selling Scandal
- Greece Needs Another Aid Programme
- Banks Play The Old Switcheroo
- Eurozone Out Of Recession?
- Pre Election House Price Bubble On Its Way
- Greece Imploding
- Greek Youth Unemployment Close to 65%
- UK Economy Heads Towards Escape Velocity
- UK Construction Jumps
- Lloyds Back In Profit
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August
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