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Greek Deputy FinMin: €11 Bln Fiscal Gap by June

o-anaplirotis-ypourgos-oikonomikon-dimitris-mardasJust days after Greece’s agreement with its European loan partners, government officials express concerns that there will be fiscal gaps in the 2015 budget and a need for further aid.
A few hours earlier, German Finance Minister Wolfgang Schaeuble made the assessment that by this summer, Greece will need a third 20-billion-euro bailout, according to a Rheinische Post report.
Talking to Greek TV, Labor Minister Panos Skourletis said: “Based on the financial obligations between now and August, we know that there will be financing needs.”
At the same time, Deputy Finance Minister Dimitris Mardas spoke of an 11-billion-euro “hole” in the budget until June, and since there is no financial aid coming until the end of April, the Greek government needs to find a solution.
A Finance Ministry official told reporters: “No one knows what we need to do now to get money from creditors. We are in uncharted territory. There is no beaten track. We hope it will go well, but there is no guarantee that it will go well.”
“We did not manage to establish development measures for these four months and have not found a way to bridge the funding gap yet,” said another Finance Ministry senior official.

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