OECD chief: New Greek bailout terms may be needed

June 17, 2012 06:49


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

LOS CABOS - Greece should be given a chance to renegotiate the terms of its 130 billion-euro international bailout if it means keeping the country in the euro zone, the head of the Organization for Economic Cooperation and Development said on Saturday.

Angel Gurria, secretary general of the Paris-based OECD, said if the next Greek government opted to stay in the single currency bloc, it was likely to seek to renegotiate the terms of the European Union/International Monetary Fund rescue.

"It is a scenario I see (as) likely and if that is the condition presented for Greece to stay and then move on, I would say it is probably something that should be attempted," he said in an interview ahead of a Group of 20 summit in Mexico.

Greek voters go to the polls on Sunday in an election that could determine its future in the euro zone. The left-wing SYRIZA party says it wants to tear up the terms of the international package, which includes tough austerity measures that have plunged the Greek economy into recession and sparked social unrest.

Related Content

Breaking news
July 22, 2018
U.S. launches campaign to erode support for Iran's leaders