Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

8/21/2013 (2 years ago)

Catholic Online (www.catholic.org)

Schäuble adds to growing chorus that troubled Mediterranean nation will need more funds

A growing international wave of concern has been sounding warning bells. Now, German Finance Minister Wolfgang Schäuble has said for the first time that Greece will need another bailout to plug a forthcoming funding gap. Schäuble's comments come at a touchy time for his party as Germany will hold elections in five weeks' time.

German Finance Minister Wolfgang Schäuble has previously warned Germany's parliament and media that European taxpayers might have to lend Greece more money.

German Finance Minister Wolfgang Schäuble has previously warned Germany's parliament and media that European taxpayers might have to lend Greece more money.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

8/21/2013 (2 years ago)

Published in Europe

Keywords: Greece, bailout, Germany, Euros, Wolfgang Schäuble


LOS ANGELES, CA (Catholic Online) - Germans are understandably anxious over the size of European country bailouts, as they always wind up paying the lion's share.

German Chancellor Angela Merkel recently said it was too early to talk about new funding. Schäuble was far more forthright, telling an election rally: "There will have to be another program in Greece."

In the lingo of the euro-zone debt crisis, a "program" means aid loans conditional on economic overhauls Greece would have to enact.

Schäuble has previously warned Germany's parliament and media that European taxpayers might have to lend Greece more money. But his language on the campaign trail was less hedged than before, and could embarrass the German government ahead of Germany's national elections on September 22.

His comments have placed him as one among many who believe Greece will have to be given new funding to balance its books. His diagnosis is at odds with his party's stance.

The amount of new money in question is likely to be far smaller than the 240 billion Euros (Ł205 billion, $320 billion) already granted by the International Monetary Fund, the European Central Bank and the European Union. The IMF last month estimated Greece will need around 11bn Euros in 2014-15.

Any new bailout would involve sums far smaller than in previous rescues and would focus on plugging an expected funding shortfall over 2014-16, a Greek finance ministry official told Reuters news.

Greece's economy has shrunk further than any other in Europe, with bailout money only released on condition that the government imposes cuts and implements restructuring.

Inspectors from the bodies overseeing Greece's bailout conditions, the European Commission, European Central Bank and IMF, are set to visit Greece in the fall to see if further cuts and reforms are needed to help Greece reduce its debts.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Europe

'Our meeting is the message': Pope Francis' historical meeting with top Sunni imam Watch

Image of

By Ann Schneible (CNA/EWTN News)

Pope Francis on Monday embraced the grand imam Sheik Ahmed Muhammad Al-Tayyib during a meeting at the Vatican, a move which is being seen as a step toward reopening dialogue between Christians and Sunni Muslims. Vatican City (CNA/EWTN News) - "Our meeting is the ... continue reading


'It will be a first': Pope Francis to meet Sunni Islamic leader Watch

Image of Pope Francis will meet Sheikh Ahmed al-Tayeb this week (YouTube).

By Kenya Sinclair (CALIFORNIA NETWORK)

Pope Francis has decided to meet with Sunni Islam's Sheikh Ahmed al-Tayeb on Monday. LOS ANGELES, CA (Catholic Online) - Vatican spokesman Federico Lombardi told AFP, "This audience is being prepared and has been scheduled for Monday. It will be a first."The pontiff's ... continue reading


Bizzare! Europe to release documentary on 'Human Pups' Watch

Image of 'Spot' is a 'human pup' to be featured in the new documentary (ZentaiSpot/Twitter).

By Kenya Sinclair (CALIFORNIA NETWORK)

In what most claim is a non-sexual "dog play," human pups have become the latest rage to spread across the UK - so much so that a new documentary will reveal the inner workings of the human pups' lives. LOS ANGELES, CA (Catholic Online) - According to Channel 4, the ... continue reading


You won't believe what this Christian artwork reveals about Da Vinci! Watch

Image of Leonardo da Vinci's art may help researchers unveil his DNA (Pinterest).

By (CNA/EWTN News)

Leonardo da Vinci's masterpiece, Adoration of the Magi, will soon be undergoing testing that could help digitally reconstruct the artist's face and offer clues about his life and health. Florence, Italy (CNA/EWTN News) - According to the U.K. outlet Sky News, ... continue reading


London boasts first Muslim Mayor despite racial and religious tensions Watch

Image of Sadiq Khan has become London's first Muslim Mayor (Wikipedia).

By Kenya Sinclair (CALIFORNIA NETWORK)

Islamophobia spreads as ISIS continues its terror attacks - but one city has taken a step toward accepting the fact that not all Muslims are terrorists. LOS ANGELES, CA (Catholic Online) - London has elected its first Muslim Mayor. Sadiq Khan won with 56.8 percent of ... continue reading


'The Evil': Exorcism classes forced on Spanish students Watch

Image of Spanish students were forced to take an exorcism class (Brendan Hoffman).

By Kenya Sinclair (CALIFORNIA NETWORK)

Anyone who has ever been in college knows there is a list of required classes to take before you are eligible for graduation. Some classes seem unnecessary, such as a Chemistry major forced to take art classes, but what if universities and colleges required exorcism ... continue reading


28 killed in refugee camp targeted by Assad's missiles Watch

Image of Innocent civilians targeted by Assad despite temporary cease-fire (AP).

By Kenya Sinclair (CALIFORNIA NETWORK)

Humanitarian group reported airstrikes targeting a refugee camp full of innocent men, women and children during a cease-fire. LOS ANGELES, CA (Catholic Online) - According to the Syrian Observatory for Human Rights (SOHR), a Syrian refugee camp erected near the Turkish ... continue reading


Vatican under investigation - 5,000 bank accounts closed Watch

Image of Vatican auditors make move after three-year investigation (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Vatican auditors closed nearly 5,000 suspected Vatican bank accounts on suspicion of tax evasion. LOS ANGELES, CA (Catholic Online) - The scandal includes a three-year investigation of 544 suspected transactions mainly involving tax evasion.To meet international ... continue reading


MASONS HACKED! Secrets of the Masons spilled - French media to expose highest-ranking Masons Watch

Image of The Masons have been hacked. A secret dump of documents will reveal their secrets to the world.

By David Drudge (CALIFORNIA NETWORK)

Hackers have just released thousands of documents in a new document dump to the media, this time, they contain the secrets of the Masons. The data dump is known as "Masonleaks" and journalists say it will take several months to complete their review of the documents. ... continue reading


Belgian minister warns against offending Muslims, wait until you see the scary reason why! Watch

Image of Muslims take over a Parisian street for prayers.

By David Drudge (CALIFORNIA NETWORK)

A Belgian minister has a telling warning for his country as hearings begin into the Brussels attack that killed 32 people at an airport in March.  The reason for the warning is quite compelling. LOS ANGELES, CA (California Network) - A Belgian minister is warning ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Woman diagnosed with 'nightmare bacteria' in US
  • Bl. Margaret Pole: Saint of the Day for Saturday, May 28, 2016
  • Advent Prayer HD Video
  • Daily Readings for Saturday, May 28, 2016
  • WARNING: Exorcist claims demon is targeting families
  • Your Daily Inspirational Meme: He will never leave you
  • Daily Reading for Wednesday, June 1st, 2016 HD Video

Daily Readings

Reading 1, Jude 1:17, 20-25
17 But remember, my dear friends, what the apostles of our Lord Jesus ... Read More

Psalm, Psalms 63:2, 3-4, 5-6
2 Thus I have gazed on you in the sanctuary, seeing your power and your ... Read More

Gospel, Mark 11:27-33
27 They came to Jerusalem again, and as Jesus was walking in the Temple, ... Read More

Saint of the Day

Saint of the Day for May 28th, 2016 Image

Bl. Margaret Pole
May 28: Martyr of England. She was born Margaret ... Read More