NEWS

Greece to get new loan, says German newspaper

Greece will receive a new loan from the eurozone, Germany?s Handelsblatt reported on Friday.

Citing senior sources, the newspaper said that the eurozone believes the second 130 billion euros bailout package will not be enough for the country to consolidate its finances, and that a fresh loan, ranging from 16 to 20 billion euros, will be deemed necessary.

According to Handelsblatt, representatives of the European Union, the European Central Bank and the International Monetary Fund, known as the troika, are uncertain with regards to Greece being able to achieve a sustainable debt level by 2020.

The paper reported that an Eurogoup meeting on November 12 will approve a new financial injection for the cash-strapped country.