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Troika said to estimate Greece budget gap at $26B
Greece faces a budget shortfall of about 20 billion euros ($26 billion) to satisfy international conditions for emergency aid, almost double previous estimates, German magazine Der Spiegel reported Sunday, citing preliminary findings by the so-called Troika that consists of the European Commission, European Central Bank and International Monetary Fund. The country can only receive the next tranche of financial aid from its international creditors once its budget gap is closed. Euro-zone officials admit that the EUR173 billion bailout plan agreed with Athens in March--Greece's second bailout since 2010--is already ... (full story)
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