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ECB’s Asmussen says Greece to need aid beyond 2014

November 19, 2012 • Business


FILE – In this Nov. 14, 2011 file photo, Joerg Asmussen, European Central Bank board member, attends a news conference in Frankfurt, Germany. The European Central Bank board member says Greece will need international assistance beyond the agreed bailout programs through 2014. Asmussen told German public broadcaster ZDF on Sunday, Nov. 18, 2012 that Athens probably won’t be able to return to finance its debt on financial markets in 2015 and 2016, thus requiring a third assistance program. (AP Photo/ Mario Vedder, File)

BERLIN (AP) — Greece will need yet more international financial assistance beyond the agreed bailout programs through 2014, a European Central Bank board member said Sunday.

The government in Athens probably won’t be able to return to finance its debt on financial markets in 2015 and 2016, thus requiring another assistance program, Joerg Asmussen told German public broadcaster ZDF.

Many of Greece’s partners in the 17-nation eurozone loathe granting Greece yet more funds and more long-term assistance, not least Germany’s Chancellor Angela Merkel who is Login to read more

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