Grecia requerirá un tercer rescate
Genevieve Signoret & Patrick Signoret
21 August 2013
El ministro de finanzas alemán, Wolfgang Schäuble, el martes dijo abiertamente lo que muchos ya sabían: que el paquete actual de rescate de Grecia, que en total sumará €246 MMn y cuyo financiamiento termina en 2014, no será suficiente. Al mismo tiempo, insistió que no habrá quita a la deuda de Grecia. Sin embargo, muchos analistas piensan que la deuda griega, proyectada en 176% del PIB a finales de este año, no será sostenible, y que una quita será inevitable. (Kathimerini, WSJ.)
Kathimerini:
German Finance Minister Wolfgang Schaeuble said on Tuesday that Greece will need a third economic rescue package, appearing to depart from the line of pre-election campaigning being followed by Chancellor Angela Merkel, but dousing speculation about a possible shift in Berlin’s position on possible debt relief for Greece. “There will have to be another program for Greece,” Schaeuble said without providing any details and repeating Berlin’s opposition to an additional debt haircut for Greece.
WSJ:
Extra loans for Greece aren’t the biggest headache German leaders face, however. The thornier problem is that Greece’s debt load has ballooned to a level far beyond what most economists and investors think it can repay. Another loan package—although it would be smaller than the previous one—would merely add to Greek debt.Greece’s public debt is expected to reach 176% of its total economic output this year, far above the 120% level the IMF considers sustainable. Official projections that show Greek debt falling below 120% by 2022 are based on unspecified “further measures” to help the country, as well as economic-growth projections critics say are unrealistic.
The IMF—which insists on its loans being repaid in full—has warned that Europe will have to come up with ways to cut Greece’s debt. Germany has led Europe’s resistance to outright debt forgiveness, saying writing down past loans while extending new loans would break German law.
