ECB’s Asmussen Says More Time for Greece Means More Money Needed
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European Central Bank Executive Board member Joerg Asmussen said extending the amount of time Greece has to meet the terms of its bailout means European donor states would have to provide more funding.
“The country still runs a primary deficit,” Asmussen told Bloomberg Television in Tokyo today. “If you give a country more time to reach the fiscal target, it automatically means that you need additional external financing and that has to be provided by the member states of the European Union.”