Greece Seen Needing $41 Billion in Challenge to Creditors
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Greece may need as much as 32.6 billion euros ($41 billion) in extra financing through 2016, putting pressure on a German-led bloc of creditors to make concessions in order to prevent a renewed flareup of the European debt crisis.
Plans to give Greece two more years to meet deficit-reduction targets would open up financing gaps of 15 billion euros through 2014 and 17.6 billion euros in 2015-2016, according to an assessment by the country’s creditors that was obtained by Bloomberg News.