New bailout for Greece ‘inevitable’, say experts | Business

Greece could be in line for a €40bn (£33.9bn) bailout — the country’s fourth — when its current programme expires in summer next year.

Zsolt Darvas, a senior fellow at Brussels think tank Bruegel, said markets would not be willing to lend to Greece unless its creditors agreed to cut the country’s debt load in half. Athens currently owes more than 170% of its GDP.

“There’s practically no chance that Germany, Finland and the rest would agree to such a drastic cut,” Darvas said. “That means a fourth bailout is inevitable.”

A further €40bn should be enough to prevent Greece from attempting to borrow in the bond markets for up to six years, he added.

Greece was bailed out in 2010, 2012, and 2015. Darvas…

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