Report: German lawmaker claims lower Greek fiscal targets will necessitate extra 100-bln€ aid package

23 December 2016
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Additional lending to the Greek state, to the tune of 100 billion euros, if primary budget surplus targets are lowered for the country after 2018 is the report circulated on Friday by Frankfurter Allgemeine Zeitung (FAZ), which cites statements by high-ranking German lawmaker Jens Spahn.

Spahn, who is the Bundestag’s state secretary in Germany’s finance ministry, said a reduction in the memorandum-mandated annual fiscal goal to 1.5 percent of GDP, from the foreseen 3.5 percent, as demanded by the IMF, would result in a need for greater medium-term funding, which he put at 100 billion euros.

“In this case, creditors will have to bear a greater burden … and this would essentially mean a new aid package (for Greece),” FAZ quotes Spahn as saying.

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