Greek Rescue Plan Seen Topping €100 Billion |
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April 28, 2010
The bill for bailing out Greece just got more expensive, but Germany pledged Wednesday to rush through Germany's share provided there is a successful outcome to debt-reduction talks with the International Monetary Fund and European Union.
The bill for bailing out Greece just got more expensive, but Germany pledged Wednesday to rush through Germany's share provided there is a successful outcome to debt-reduction talks with the International Monetary Fund and European Union.
Meeting with German lawmakers in Berlin, IMF chief Dominique Strauss-Kahn said the rescue plan was likely to total between €100 billion and €120 billion (between $132 billion $158 billion) over three years, according to Jürgen Trittin, a parliamentary leader for the opposition Green Party, who gave a statement after the meetings. That ups the total from the €45 billion package that the EU and IMF were putting together for the first year.
Mr. Strauss-Kahn declined to confirm those numbers at a later news conference. The EU accounts for €30 billion of the original €45 billion plan.
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