The President of the Eurogroup Jeroen Dijsselbloem echoed the German Minister of Finances Wolfgang Schäuble in his appearance on Dutch television and spoke of the possibility of a third bailout for Greece.
Mr. Dijsselbloem also stressed that any such decision though, including the extent of financial assistance, would be made after the summer and argued that the Greek public debt remains excessive. The Eurogroup head estimated that if Greece were to finance it, the interest rate would be between 6% and 7%, essentially making it non-serviceable.
As such, Mr. Dijsselbloem insisted that either a third bailout or a reduction of the interest Greece is currently paying may further support the recovery efforts. The key to the recovery of the Greek economy, according to the Eurogroup president, is supporting competition. Additionally the Dutch Minister of Finances underlined that the budget has improved and was pleased with the progress in the tourist sector.
