"Then we will also review Greece's programme's possible continuation and financing. The debt sustainability can be improved, for instance, by extending the loan periods."
- European Commissioner Olli Rehn
German Finance Minister Wolfgang Schaeuble warned out that Greece is likely to ask for another bailout in order to plug a forthcoming funding gap, just weeks before German crucial national elections. His comments are expected to have a negative impact for voters, as Germans are uncomfortable with the size of European country bailouts, for which they are paying a huge share. German Chancellor Angela Merkel, however tried to calm down people by saying it is too early to talk about new funding. The amount of new tranche is expected to be far smaller than the previously granted 240 billion euros, which Greece received from international lenders- the International Monetary Fund (IMF), the European Central Bank and the European Union. Last month, the IMF said Greece is likely to need about 11 billion euros during the next two years.
Also Wednesday, European Commissioner Olli Rehn pointed out that there are still other ways to keep Greece's aid programme going, citing extension of the repayment schedule on existing loans as a possible solution. The Troika will review the aid programme later in the autumn.
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