Courtesy of Mish.
Spanish Economy Minister Insists 3rd Bailout Talks Underway
Spanish economy minister, Luis de Guindos, has reiterated his position that Third Greece Bailout discussions are in play.
Luis de Guindos put back on the table the possibility that the Troika is preparing a new bailout for Greece. “The four month extension of the aid program will show us the real situation and establish the need for a third rescue,” he assured an information forum. “Next week, the Eurogroup meeting will hopefully expose the discussions that have occurred,” he added.
Jean-Claude Juncker denied this week that it was negotiating a third bailout for Greece, but it’s the second time that the economy minister made statements in this regard. In particular he spoke of a package of between 30 and 50 billion euros of which Spain would guarantee between 13% and 14%. Our country has already contributed 26 billion euros in respect of guarantees and loans for the Greek economy.
Whom to Believe?
Once again this is a question of whom to believe.
I don’t know for the simple reason that no one involved merits the benefit of the doubt.
I discussed this issue at length in Greecification of Spanish Politics and the Lies of Spain’s Ministers.
The actual amount of Spain’s loan to Greece is €6.65 billion. Everything beyond that is a loan guarantee, not current paid out of pocket. The guarantee is real, but it’s not spent money … yet.
See the preceding link for discussion.
No, No, No Says Draghi to Greece
Keep Talking Greece has anther interesting post today: Varoufakis says “We have Plan B” after ECB Draghi’s says No,No,No to liquidity.
“We have Plan B” Greek Finance Minister Yanis Varoufakis told private Mega TV on Thursday, just a couple of hours after ECB head Mario Draghi linked ECD funding with Greece’s compliance to the bailout and austerity program, righting the conditions for liquidity.
At a press conference today, Mario Draghi distributed money around, but to the Greek, he said three times “No”.
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