Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Bruegel think-tank study estimates Greece will need $55 billion more in bailout loans

BRUSSELS - An influential think-tank estimates Greece will need a third package of international bailout loans worth 40 billion euros ($55 billion) to reduce its debt burden to a sustainable level by 2030.

Brussels-based Bruegel said in a study published Thursday that currently discussed plans to only extend the maturity and lower the interest rates on Greece's outstanding debt won't be sufficient.

Greece's European partners and the International Monetary Fund have kept the debt-stricken country afloat since 2010 with bailout loans worth 240 billion euros.

Bruegel says a new loan package would allow the country to gradually reduce its debt level, provided it balances its budget by 2018 and continues to record primary budget surpluses, that is, before counting interest payments.

Greece's debt level currently stands at about 175 per cent of GDP.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Submit a Random Act of Kindness
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates