European officials are preparing to revamp Greece’s bail-out package after concluding that Athens would be unable to raise money in the markets early next year, as envisaged under a €110bn rescue plan.
Eurozone ministers this weekend publicly acknowledged that Greece would probably need additional cash from the European Union or other international institutions.
“We think that Greece does need a further adjustment programme,” said Jean-Claude Juncker, Luxembourg’s prime minister and chairman of the eurogroup of finance ministers.
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