German bank chief says Greece may need 80 billion euros: report

20th April 2010, Comments 0 comments

German central bank governor Axel Weber has said Greece may need up to 80 billion euros (108 billion dollars) in financial aid to avoid default, the Wall Street Journal reported on Tuesday.

Weber made the remarks to a small group of German lawmakers at a closed-door meeting, the report quoted a person familiar with the matter as saying.

The central bank chief told the meeting that Greece's situation was worsening and that "the numbers are changing all the time," the source said.

Eurozone ministers have offered debt-stricken Greece up to 30 billion euros in 36-month loans for this year at a rate of around five percent if needed.

The International Monetary Fund could contribute another 10 billion or 15 billion euros in emergency loans this year, officials said.

Officials say more loans could be provided next year and the year after.

The German central bank declined to comment, the report said.

© 2010 AFP

0 Comments To This Article