Off the wire
• Who can break China's ice hockey deadlock?  • News Analysis: Will "African Lion" Ethiopia sustain fast growth?  • 1st LD-Writethru: Over 800 seized for crimes related to underground banks  • Syrian army captures key town from IS in northern countryside of Aleppo  • Sapporo bid for Winter Olympics worth a shot (updated)  • Weather forecast for world cities -- Feb. 26  • Weather forecast for major Chinese cities, regions -- Feb. 26  • Chinese state councilor to visit U.S.  • Left alone twins drown in washing machine at home in India  • Macedonian president urged to task SDSM's Zaev to form new gov't  
You are here: 　 Home

Greece likely needs fourth bailout: economist

Xinhua, February 26, 2017 Adjust font size:

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. Endit