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Study: Greece to need new $55 billion bailout

By Washington Examiner
Published February 20, 2014 12:22pm ET
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Study: Greece to need new $55 billion bailout
A farmer from the northern Greek region of Pella takes part in a protest against government tax policies as others wave Greek flags behind, in central Athens on Wednesday, Feb. 19, 2014. About 4,000 people, including civil servant unions, took part in the peaceful demonstration outside of the House of Parliament. Greece's conservative-led government has committed to continue spending cuts and economic reforms in exchange for billions of euros in international rescue loans. (AP Photo/Petros Giannakouris) | Petros Giannakouris

BRUSSELS (AP) — 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.

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