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Europe Plays With Time On Greek Debt Problem

A decision on whether Greece needs a second financial bailout will be made “a few weeks,” according to European Union Economic Affairs Commissioner Olli Rehn.
IMF Managing Director Dominique Strauss-Kahn may attend the Eurogroup summit next Monday, at a meeting that the overall debt crisis in Eurozone will be discussed, focusing on the impact of alternative scenarios to address the problem of Greece and Portugal.
The provisional data available to the Eurogroup show with certainty that Greece will need an additional loan next year to meet payments of bond maturities. Given that, alternative scenarios for the measures to be decided in the European Summit in late June or no later than September, according to a European Commission official.
(source: capital)

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