New Greek bailout could be finalised by autumn: Berlin

3rd July 2011, Comments 0 comments

A new bailout for Greece could be finalsed by the autumn, before the payment of the next scheduled tranche of the first bailout, Germany's Finance Minister Wolfgang Schauble said on Saturday.

Any new plan would be conditional on the participation of the private sector and austerity measures being implemented by the Greek government, he said in a statement.

"The work for a new bailout necessary for Greece is being carried out intensively," he said, adding that the finalistaion could "come before the payment of the next tranche in the autumn."

© 2011 AFP

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