Greece denied reports it may be negotiating another financial bailout with international lenders on Tuesday, as its borrowing costs rose amid growing fears the crisis-hit country may have to restructure its debt without further EU aid.
REUTERS - Greece denied a report on Tuesday it was discussing a new 60 billion euros bailout with international lenders and its borrowing costs rose amid fears it may have to restructure its debt without further EU help.
Doubts were raised by a German lawmaker whether Greece had met the conditions for getting the next, crucial tranche of aid under its existing bailout deal but a source close to EU and IMF inspectors in Athens said it was too early for a decision.
Prime Minister George Papandreou chaired a cabinet meeting ahead of the key EU/IMF decision—at stake is the next, 12 billion euro bailout tranche due in June, essential to pay 13.7 billion euros of imminent funding needs.
France 24's Nathalie Savaricas reports on possible new financial aid for Greece
“Greece is fighting a difficult battle amid these fluid, difficult and unexpected conditions in the European Union,” Papandreou told President Karolos Papoulias. “We need a wider sense of unity and solidarity.”
Date created : 2011-05-10