3rd Aid Package Needed "if" Greece Stays in EU...

June 13, 2012 12:29 PM EDT
If Greece remains in the EU, it will need a third aid package which could come as early as this summer, according to a German newspaper, Die Zeit. Future aid to the debt stricken country is dependent on the adoption of reforms.

Greece has been forced to seek help to finance government operations and banking from outside sources due to difficulties it is having raising money through traditional debt instruments, which have seen yields on 10-year bonds at 30 percent.

The future of Greece's participation in the EU is largely dependent upon results from elections in the country on Sunday. Recent polls show support is split between pro- and anti-austerity candidates, and the most likely outcome is that Greece will be unable to form a government, according to reports.

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