ECB's Asmussen calls for decision on Greece 2-year financing
2012-11-19 11:52:42
The Eurozone should decide next week on financing Greece for 2013 and 2014, European Central Bank policymaker Joerg Asmussen told German broadcaster ZDF.
"But you have to be honest and say we do not really expect the country to have access to markets in 2015 and 2016," he said Sunday. "That means a follow-up programme would be necessary."
Euro area finance ministers and the International Monetary Fund will hold a meeting on November 20 to finalize the payment of the next tranche of Greek aid. At the last week meeting, ministers granted Greece two extra years to meet its budget targets.
Loans alone will not help Greece as it would lift the long-term debt of the nation, Asmussen said. IMF is seeking a permanent solution to Greek debts and it is unlikely to support further delay.