Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

8/21/2013 (11 months 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 (11 months 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 (£205 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'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Europe

Stop! I am asking you with all my heart. Stop! - Pope Urges End to Wars in Ukraine, Iraq and Gaza

Image of Brothers and sisters: never war.My thoughts go especially to the children, from whom we take away the hope for a decent life: dead children, injured children, maimed children, orphaned children, children who have war relics for toys, children who do not know how to smile.- Pope Francis

By Asia News

He mentions children, victims of war, "from whom we take away the hope for a decent life," urging the parties to address "every diatribe with the tenacity of dialogue and negotiation and the power of reconciliation". As tomorrow marks 100 years since the outbreak ... continue reading


Meriam Ibraham is Free! The Living God Has Heard the Cry of His People! Jesus Christ is Lord! Watch

Image of Meriam receives the blessing and the gratitude of the successor of Peter, Francis.- What should be front and center in every Christian news report on this remarkable story is that God intervened on behalf of Meriam and her family. The God whom we profess is real and His power is greater than any regime or any form of opposition. Yes, He used men and women, and even government leaders, to accomplish His deliverance. He often does. But it was His Love and Mercy which broke the shackles of evil. He deserves all the praise.

By Deacon Keith A Fournier

The photo of Pope Francis blessing Meriam Ibrahim and her little daughter Maya in the Casa Santa Marta on Thursday, July 24, 2014, reciving a blessing from a smiling Pope Francis, made millions of hearts leap for joy. The God of love answers the prayers of His ... continue reading


'A negative act necessarily must be condemned:' Vatican revising law on abuse penalties Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

In regards to canonical law regarding acts of sexual misconduct, according to law ended up being too vague, Bishop Juan Ignacio Arrieta says, church sanctions were being applied so haphazardly that the church appeared to be divided. In response, the Vatican is ... continue reading


VILE: Somali girl smuggled into United Kingdom for organ harvesting Watch

Image of In perhaps the most horrific recent case, law enforcement learned that a Somali girl had been brought to England for the express purpose of harvesting her organs for transplant.

By Catholic Online (NEWS CONSORTIUM)

There has been a noticeable uptick of cases of human trafficking in the United Kingdom. In perhaps the most horrific recent case, law enforcement learned that a Somali girl had been brought to England for the express purpose of harvesting her organs for ... continue reading


HORRIFIC ABUSE: 18-year-old girl coerced into group sex while being recorded on cell phone Watch

Image of The incident is being called an example of

By Catholic Online (NEWS CONSORTIUM)

An 18-year-old girl performed explicit sex acts on 24 men on a dance floor with the promise of a holiday - which never arrived. Presented with a mixed drink for her acts of indecency, the sordid episode was recorded on a cell phone camera - for the world to ... continue reading


Female genital mutilation threatens young females in England, Wales Watch

Image of The Department of Health has ordered hospitals to report signs of genital mutilation. The first statistics aren't due until September.

By Catholic Online (NEWS CONSORTIUM)

Far away from Africa and parts of Asia, girls and young women are still at risk for female genital mutilation, or FGM within the United Kingdom. The barbaric practice, FGM, is still carried out among various immigrant females in both Great Britain and Wales. ... continue reading


Putin vs. the World: One plane crash may spell the end for Russian president's ambitious plan of conquest Watch

Image of Russian backed separatists stand around wreckage from the downed Malaysian Airlines plane.

By Catholic Online (NEWS CONSORTIUM)

World opinion continues to oppose Russian President Vladimir Putin, with the destruction of Malaysian Airlines Flight 17 over Ukraine being the most notable and recent example of Russian interference in Ukraine. LOS ANGELES, CA (Catholic Online) - Time and evidence ... continue reading


Prophetic Pope Does It Again: Words to an Economic Conference Make Waves Watch

Image of Pope Francis is absolutely correct. It is not

By Deacon Keith A Fournier

On July 12, 2014, this prophetic Pope made waves again. He addressed participants in an international conference entitled - The Global Common Good: Towards A More Inclusive Economy. The conference was convened in Rome and sponsored by the Pontifical Council for ... continue reading


Sting nabs 600 pedos across UK, Scotland, Northen Ireland Watch

Image of Heightened awareness of child sexual abuse in the United Kingdom came in the wake of shocking revelations of predatory sexual behavior by late TV host Jimmy Savile.

By Catholic Online (NEWS CONSORTIUM)

An Internet sting operation targeting pedophiles has led to the arrest of 660 individuals in the United Kingdom. Among those arrested were teachers, doctors, scout leaders, social care workers and former police officers. The six-month investigation was ... continue reading


MYSTERIOUS BISHOP: Father of British science to be honored Watch

Image of Bishop Robert Grosseteste was one of England's foremost scientific scholars, back in the 13th century.

By Catholic Online (NEWS CONSORTIUM)

A theologian from Bishop Grosseteste University in the city of Lincoln has called for the erection of a statue of Bishop Robert Grosseteste, the medieval thinker, in his home city of Lincoln. LOS ANGELES, CA (Catholic Online) - Dr. Jack Cunningham said that a ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

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

Daily Readings

Reading 1, First Kings 3:5, 7-12
5 At Gibeon Yahweh appeared to Solomon in a dream ... Read More

Psalm, Psalms 119:57, 72, 76-77, 127-128, 129-130
57 My task, I have said, Yahweh, is to keep your ... Read More

Gospel, Matthew 13:44-52
44 'The kingdom of Heaven is like treasure hidden in ... Read More

Reading 2, Romans 8:28-30
28 We are well aware that God works with those who ... Read More

Saint of the Day

Saint of the Day for July 27th, 2014 Image

St. Pantaleon
July 27: St Pantaleon came from Nicomedia, near the Black Sea, in Asia. ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter