Greek finance minister Evangelos Venizelos told lawmakers Thursday that the country needs EUR80 billion to cover its financing demands by the time it is due to receive the seventh tranche of its first rescue package in February.
“The seventh tranche must be disbursed by the end of February. This payment is not at EUR8 billion (as the sixth tranche is) but at EUR80 billion, because these will be the cash needs of the country,” he said.
He also warned that an early election would derail the cash-strapped country’s new bailout agreement, reached on October 27th in Brussels after marathon negotiations with Greece’s official lenders -the European Union, the European Central Bank and the International Monetary Fund- as well as representatives of the private financial sector.
(source: Dow Jones)
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