USEUROPEAFRICAASIA 中文双语Français
World
Home / World / Europe

Greece likely needs fourth bailout: economist

Xinhua | Updated: 2017-02-27 09:37

Greece likely needs fourth bailout: economist

An elderly woman searches through donated clothes at a soup kitchen run by the Orthodox church in Athens, Greece, February 15, 2017. [Photo/Agencies]

ATHENS - Greece will likely need a fourth bailout program, according to Cypriot economist and 2010 Nobel laureate Christoforos Pissarides.

"I am afraid there will be a fourth memorandum," 69-year-old Pissarides said in an interview with local SKAI television's program "Weekend with Action".

"The crisis and austerity will end when Greece will be able to return to international financial markets," Pissarides said, adding that in his view it was rather unlikely to happen before the end of the current bailout in August 2018.

The expert called for more reforms with no delays to attract investment in order to exit the seven-year debt crisis.

Pissarides referred to political instability and shortage of political willingness to carry out reforms as the main factors behind Greece's problems in the implementation of the bailouts.

Greece had signed three bailout programs with international lenders since May 2010 to address the debt crisis.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US