ECONOMY

Next bailout for Greece will be ‘much smaller,’ says Schaeuble

Germany’s finance minister says he expects a future aid package for Greece to be much smaller than the country’s existing rescue deals.

In two bailout packages so far, Greece’s European partners and the International Monetary Fund have committed 240 billion euros ($320 billion) in loans. This week, German Finance Minister Wolfgang Schaeuble said there will have to be another aid program after the current one expires next year.

Schaeuble was quoted Friday as telling Germany’s Handelsblatt daily that he is holding out the prospect of further aid on condition that Greece fulfills its obligations «and in the expectation that this will be about far smaller sums than to date, because Greece will then already have a primary surplus.”

He says he can’t name any specific figures or measures.

[AP]