Report: Greece risking 'harsh' new bailout in 2018

AP News
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Posted: Jan 27, 2017 11:18 AM
Report: Greece risking 'harsh' new bailout in 2018

ATHENS, Greece (AP) — An independent Greek parliamentary report has warned that Greece faces an increased risk of a fourth bailout — or even a default — if delays in negotiations with bailout lenders are not overcome in the next few weeks.

In a 67-page report Friday, the Parliament Budget Office argued that delays would hurt chances of Greece regaining market access before the end of the current international rescue program next year.

It said Greece's partners in the 19-country eurozone, faced with mounting political pressure from burgeoning parties opposed to the European Union, would likely impose "harsh" terms on Athens if new loans were needed.

Greece is pinning its hopes on additional debt relief to avoid a new rescue package, and wants to join the European Central Bank's bond buying program to revitalize its stagnant economy.